Citibin, a manufacturer of enclosures for refuse, recycling and compost containers, is tripling its presence at the Industry City industrial and commercial complex in Brooklyn. Under a new five-year lease, the company is expanding its combined office and warehouse space from 4,600 to 15,000 square feet.
The expansion of an additional 10,400 square feet at the campus in the Sunset Park district is, according to the landlord, largely driven by stricter municipal regulations in New York City. The local administration is increasingly mandating that commercial and residential operators store rubbish in rigid containers. Asking rents for upper-floor industrial space at Industry City range from $21 to $29 per square foot.
Growth driven by municipal refuse mandates
Citibin relocated its operations to Industry City back in 2017, consolidating two separate warehouses in New Jersey and Brooklyn's Red Hook district. While its products were originally aimed primarily at residential properties, the company has benefited substantially in recent years from city council initiatives to curb vermin. Today, the business supplies rodent-proof containers to 58 of the 78 Business Improvement Districts across New York City.
- —Expansion from 4,600 to 15,000 square feet at the Sunset Park location
- —Supplying 58 of the 78 Business Improvement Districts in New York City
- —Growing customer base outside its home market in Chicago, Baltimore and Boston
Commercial space united under one roof
Negotiations were led in-house for the landlord by Nick Shears, Vice President of Leasing at Industry City. Bertram Rosenblatt of advisory firm Cresa acted on behalf of the tenant. Rosenblatt noted that Industry City worked proactively to accommodate Citibin's continuous growth within the existing real estate portfolio.
Shears highlighted that Citibin is an excellent example of the importance of flexible space planning. The company was able to adjust its industrial footprint flexibly without having to separate administration from assembly operations geographically. In Building 26 at 4014 First Avenue, the company brings together design teams, offices, assembly and warehousing under one roof. The building is located approximately two blocks from the main grounds of the 35-hectare campus and also accommodates, among others, print shop Soho Letterpress, the studio of light artist Leo Villareal, and aerospace company Beyond Reach Labs.
