US life insurer Gerber Life Insurance has signed a lease for 12,868 square feet of office space at the 45 Main Street property in New York's Dumbo neighbourhood. The building is part of the portfolio of developer and asset holder Two Trees Management. As the landlord announced, the new Brooklyn location will serve as a satellite office for the company's technology teams. Gerber Life's headquarters will remain in White Plains in the state of New York.
The parties involved did not provide official details regarding the exact lease term or the agreed conditions. According to a spokesperson for Two Trees Management, average asking rents for the office building at 45 Main Street range between $45 and $55 per square foot.
Location profile and office brokerage
On the landlord side, the transaction was handled by an in-house team from Two Trees Management comprising Alyssa Zahler, Elizabeth Bueno and Jarad Winter. The tenant was advised by Michael Baraldi and Owen Koorbusch of brokerage Cushman & Wakefield.
Following the agreement, Alyssa Zahler emphasised that a business community shaped by innovation, collaboration and creativity has established itself in Dumbo. The insurer's decision to establish a presence there underlines the neighbourhood's status as a dynamic hub for leading companies across diverse industries.
Tenant mix in historic industrial complex
The building at 45 Main Street was completed in 1912 and comprises twelve storeys with a total lettable area of approximately 475,000 square feet. The property already houses established international tenants from creative and design industries, including Danish architecture practice Bjarke Ingels Group and film editing collective Church Edit.
The asset has recently shown noticeable letting momentum: design firm Twelve recently expanded its space in the building to a total of 14,000 square feet, doubling its office presence there.
