Skip Ribbon Commands
Skip to main content

News release

NEW YORK, NY

JLL Secures 52,350 SF for Uber at Terminal Stores Building in New York

Technology company signs 10+-year lease for portion of 3rd floor at historic Terminal Stores Building


NEW YORK, May 21, 2014 — JLL has completed a new, direct lease for Uber at 636-638 West 28th Street, also known as the Terminal Stores Building, with Waterfront New York Realty Corp. The transportation-based technology company, which seamlessly connects riders to drivers, signed a 10-plus-year lease for 52,350 square feet at the 1.2 million-square-foot, mixed-use property.

The tenant, Uber, was represented by Alexander Chudnoff, vice chairman; Dan Turkewitz, senior vice president; and Brittany Wunsch, associate, all with JLL. The building owner, Waterfront New York Realty, was represented in-house by Christopher Flagg, vice president; Chris Pachios, director; and Peter Pachios, director.

Uber opened its first New York office in May 2011 with just three employees operating out of a co-working space in Brooklyn. The JLL team represented the firm in its first expansion in November 2012, a relocation to approximately 3,500 square feet at 27-55 Jackson Avenue in Long Island City. In just under two years, Uber has grown from three employees to 50 people and now has plans to expand in its new space by an additional 225 people.

The JLL team was able to uncover an unencumbered block of 52,350 square feet, with expansion options, in the West Chelsea building. Uber will occupy a portion of the third floor and will relocate to the property from its Long Island City office in the fourth quarter of 2014.

The transportation-based technology company’s new home is within a landmark district between 27th and 28th streets, less than two blocks from the High Line and three blocks from the greater Hudson Yards development project, including 10 Hudson Yards, the future home of SAP, Coach and L’Oreal; 30 Hudson Yards, the future home of Time Warner; and the extension of the new 7 train.
“This is another example of the phenomenal growth and maturation of the technology industry within New York City,” said Chudnoff. “The Terminal Stores Building is a tremendous location for the fast-growing company, and we were able to achieve options that enable Uber to proactively expand its business over the term of the lease”.

Uber’s new space at the Terminal Stores Building will include exposed brick finishes, unique steel columns and arched windows with riverfront views. The interior will boast high-tech finishes including digital walls, LED fixtures and a daylight harvesting electrical system. The new offices also will incorporate artwork from local artists into the design of interior spaces, and will feature several meeting spaces, small pantries and breakout areas for a collaborative work environment.

Formerly known as The Terminal Warehouse, the property was designed by George B. Mallory and constructed in 1891. The facility, which at one time had twin rail lines running through the building, was originally designed to be a transfer point for merchants receiving or shipping goods or products in and out of the city. In the 1980s, the building was home to the Tunnel nightclub which featured a long, narrow space with multiple rooms on several levels. Today, the building boasts a handful of creative tenants including Quirky, The Lab, Grimshaw Architects, Union Square Events, IO Media, Wichcraft and Dean and Deluca.

In addition, Danny Meyer is opening a Blue Smoke offshoot, southern-style bar, for the Eleventh Avenue retail component of the building.

JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2013, the New York tri-state team completed approximately 25.9 million square feet in lease transactions, arranged capital markets transactions valued at $2.1 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 95.3 million square feet and an agency leasing portfolio of 67.0 million square feet.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit www.jll.com.