Wednesday, January 04, 2012

Nets moving offices to Brooklyn, subleasing space from downsizing MetroTech tenant

The Nets are moving their offices to Brooklyn, and to a Forest City Ratner building to boot, but that represents no net gain to the developer, as the team is subleasing space from a downsizing tenant.

The Commercial Observer reports, in an exclusive:
The team is relocating its corporate headquarters from East Rutherford to Downtown Brooklyn, where the organization is taking 35,145 square feet at the office building 15 MetroTech Center. The Nets will take the space for between five and 10 years at rents in the $30s per square foot, said sources.

The Nets will sublease 15 Metrotech’s entire 11th floor from Visiting Nurse Health Care System, Inc., which is consolidating its operations onto another floor it leases at the property, the tenth.
The team was originally supposed to move to the arena itself, but the 2009 arena downsizing moved the offices off-site.

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