A building renovation is coming to what is known as Building 19 in Industry City, located at 168 39th Street. The upgrades, according to Commercial Observer, will address “basic infrastructure and add new windows and a new lobby to the 1.3 million-square-foot building.”
The building is the same one that houses the Brooklyn Nets’ training facility, which is located on the eighth floor and rooftop. The new renovations will be of the first seven floors and encompass 500,000 square feet, to be leased out to “creative and technology tenants.”
“While the city’s innovation economy continues to grow, the sectors leading its resurgence continue to be challenged by the white-hot real estate market,” Andrew Kimball, CEO at Industry City. “Activating this space will help maintain the city’s competitive advantage and ability to capture the job-generating companies looking to expand here.”
Funding for the project will reach $50 million of existing funds from the developers, Jamestown Properties and Belvedere Capital, and the city.
The asking price for leases are said to be $15 to $35 per square foot.