Creative production company Industrial Color has agreed a long-term renewal and substantial expansion of its existing lease at 32 Avenue of the Americas in New York's Tribeca district. As announced by landlord Rudin, the network of production studios remains committed to the location following more than twenty years of presence.
The agreement comprises a 15-year renewal for the 46,638 square feet previously occupied across the entire 22nd floor and parts of the 20th floor. In addition, Industrial Color secured an extra 12,125 square feet on the 20th floor. Through this expansion, the company's total footprint in the landmark office building increases to 58,763 square feet.
Endorsement of the location and ownership profile
Robert Steinman, Senior Vice President of Commercial Leasing at Rudin, emphasised the significance of the transaction. He noted that there is hardly a stronger endorsement than a tenant opting for an even broader commitment to a building after two decades. Renewals of this kind reflected the value of a landlord that can be trusted over the long term, and Rudin looks forward to supporting the company's continued growth at the site for many years to come.
On the landlord side, the transaction was handled internally by Robert Steinman alongside Craig Panzirer, Senior Vice President and Director of Commercial Leasing at Rudin. Industrial Color was advised by Paul Ippolitto and Kyle Wainwright of Newmark. The parties did not disclose the precise lease terms. According to data from property services firm Colliers, the average asking rent for office space in Lower Manhattan stood at $64.88 per square foot in the third quarter of 2026.
History and tenant profile of the property
Rudin acquired the prominent building at 32 Avenue of the Americas from AT&T in 1999. Located one block south of Canal Street, the property features a well-known tenant base from the technology and services sectors. Alongside Industrial Color, the premises house telecommunications group Verizon, network infrastructure provider Lumen Technologies, and flexible workspace provider Industrious, among others.
