Drive Shack Rents Full Floor at Columbia Property’s Chelsea Building
The deal brings 218 W. 18th St. to 100% leased.
NEW YORK CITY—Drive Shack, the owner and operator of golf entertainment, an example of the growing sector of “competitive retail” scored a 13,400 square-foot lease. It was the last remaining floor at Columbia Property Trust’s building at 218 W. 18th St. that’s between Seventh and Eighth avenues. Terms of the lease including its price and length were not disclosed.
The golf entertainment owner and operator’s relocation of it headquarters brings the property to 100% leased. Other building tenants include the beverage maker Red Bull, and Company 3, a film post-production company.
“218 West 18th St. continues to attract top-tier creative and lifestyle firms, who are drawn to its mix of warehouse architecture, high-touch tenant service, and the amenities of the Chelsea neighborhood,” says Dave Cheikin, Columbia Property’s SVP of strategic real estate initiatives.
All of the brokers involved in the transaction were from CBRE. Paul Amrich, Neil King and Reeves Henritze represented Columbia Property. Conor Denihan and Bill Iacovelli represented Drive Shack.
Built in 1912, 218 West 18th St. is a former warehouse that has been converted to an office building. It’s close to Columbia Property’s 249 W. 17th St. where Twitter recently signed a 215,000-square-foot-renewal for its headquarters.
Columbia Property Trust bought 245-249 W. 17th St., two buildings that have a shared address, and 218 W. 18th St. from New York REIT for $514 million, as previously reported by Commercial Observer.
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