Creative production company Industrial Color has agreed a long-term renewal and expansion of its existing lease at 32 Avenue of the Americas in New York's Tribeca district. As landlord Rudin announced, the studio network has committed for a further 15 years to the historic Lower Manhattan office location, where the company has been based for more than two decades.
The agreement includes the renewal of the existing lease covering 46,638 square feet across the entire 22nd floor and parts of the 20th floor. In addition, Industrial Color is taking a further 12,125 square feet on the 20th floor. Following this step, the service provider's total footprint in the prominent Art Deco tower increases to 58,763 square feet.
Commitment to historic Lower Manhattan location
Robert Steinman, Senior Vice President of commercial leasing at Rudin, stated that there was no stronger endorsement of a location than a tenant deepening its presence after two decades. Such lease renewals demonstrated the value of landlords whom tenants could trust over the long term. Rudin was proud to support the growth of Industrial Color at 32 Avenue of the Americas in the years ahead.
Steinman represented the landlord in-house during negotiations alongside Craig Panzirer, Senior Vice President and head of commercial leasing at Rudin. On the tenant side, Paul Ippolitto and Kyle Wainwright of Newmark brokered the deal. Rudin did not disclose specific financial terms or asking rents. According to market data from real estate services firm Colliers, average asking rents for office space in Lower Manhattan stood at $64.88 per square foot in the third quarter of 2026.
Established tenant mix on Canal Street
Rudin acquired the historic 32 Avenue of the Americas building from AT&T in 1999. The property is located one block south of Canal Street and features a diverse tenant mix of technology and media companies. Alongside Industrial Color, the building is home to notable tenants including:
- —telecommunications group Verizon
- —network and infrastructure provider Lumen Technologies
- —flexible workspace provider Industrious
With the new 15-year lease, Industrial Color sends a clear signal regarding the resilience of established media hubs in Manhattan, whilst Rudin further strengthens the occupancy of its flagship asset in Tribeca.
