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Industrial Color Brands Steps Up its Footprint at 32 Avenue of the Americas

Production Services Firm Grows to 56,000 SF, Commits to Stay Until “At Least” 2032
January 29, 2018
Industrial Color Brands, a full-service production firm with subsidiaries including Smashbox Studios and globaledit, is not following the FIRE and TAMI companies pursuing headquarters relocations within Manhattan. Rather, it has signed a long-term lease renewal and expansion for its current Tribeca home at 32 Avenue of the Americas in New York City.

Industrial Color Brands will now occupy 56,000 square feet at the 1.16-million square-foot office property, committing to the remain in the building "until at least 2032," says landlord The Rudin Family.

The 10-year lease encompasses an extension of 38,000 square feet the creative firm already operates from on the 22nd floor, as well as an expansion for an additional 18,000 square feet across the 20th and 21st floors there.

The tenant has been at 32 Avenue of the Americas since 2005, according to Michael Rudin, senior vice president with Rudin Management Company.

The Rudin Family reportedly acquired the 27-story tower from AT&T in 1999 for $250 million, or about $215 per square foot.

Built in 1932 and later renovated by the Rudins in 2000, the property is a hub for technology and media companies, including Digital Realty Trust, Dentsu America, Century Link, Coresite, AMFM Operating, Clearchanel, Iheartmedia, Tribeca Film Institute and Globo TV. Twin 140-foot radio towers top the fully-occupied building, which is equipped with primary and backup power systems, redundant HVAC systems and fuel storage capacity.

Newmark Knight Frank’s Paul Ippolito represented Industrial Color Brands in lease negotiations. Robert Steinman with Rudin Management Company represented building ownership in-house.
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