Vice Media Renews 78K-sf Williamsburg Space
Digital media company Vice Media has opted to retain its current global headquarters at 289 Kent Avenue and adjoining 49 South 2nd Street in Brooklyn’s Williamsburg neighborhood. A 4-year lease was signed for the 77,700-square-foot space, closing the door to rumors of a possible relocation to Dock 72 at the Brooklyn Navy Yard. A tenant since 2014, upon relocation from 90 North 11th Street to make way for a ground-up office and retail development, Vice Media invested $20 million to renovate the former industrial building located across from the Domino Sugar Factory complex. In addition, the company was offered $6.5 million in tax credits through the Empire State Development Excelsior program, a benefit received from New York State upon Vice Media following through on its hiring and investment commitments. Financial terms of the recent renewal were not released, however in 2014, the base rent for the 8-year deal was $55 per square foot and included an 8-month rent concession with an option to extend the lease.