Blue Panda Office Spaces Expands with 10-Year Lease in Williamsburg

Interior view of an office space designed for health care professionals

News Summary

Blue Panda Office Spaces has signed a 10-year lease for a 10,000-square-foot space at 134 Broadway in Williamsburg, Brooklyn. This expansion will accommodate the high demand for boutique office spaces, particularly from clients in the health care industry. The location is part of an evolving economic landscape, fueled by new residential developments and a cultural transformation in the area, enhancing its appeal for businesses and clients alike.

Williamsburg, Brooklyn – Blue Panda Office Spaces has secured a 10-year lease for a 10,000-square-foot space located at Nassimi Realty’s 134 Broadway. The lease comes with an asking rent of $55 per square foot, marking a significant expansion for the company, which will now operate five locations, including others in North Brooklyn.

This new office space will cater primarily to clients in the health care industry, addressing a robust demand noted by Blue Panda, which currently has a waitlist for its private office offerings. The expansion is a strategic move in response to the increasing demand for boutique office spaces in Williamsburg. The local economic landscape has been further enhanced by ongoing outdoor development projects and the addition of approximately 4,500 residential units in the vicinity.

Facility Details

The building at 134 Broadway boasts a rich history, having been constructed in 1901. It is part of a community hub that includes the acclaimed restaurant Francie, which has garnered multiple Michelin stars over the years. The location’s significance has grown due to a cultural transformation within the Williamsburg area, fostering a blend of commercial and residential environments that contribute to its appeal.

Market Trends

The shift in demand has been notably influenced by successful developments in the North and South Williamsburg border, such as 10 Grand Street and the landmark Domino Sugar Refinery. These projects have set the stage for increased interest in boutique office spaces among businesses seeking to establish a presence in Williamsburg.

Strategic Growth

Paula Madrid, the founder of Blue Panda, has pointed to the strong demand for their private offices as a key factor in this expansion. As local economic growth continues, it aligns with broader trends that reflect increasing demand for office spaces in the area. This leasing agreement demonstrates Blue Panda’s commitment to meeting the needs of its clients while adapting to the evolving landscape of Williamsburg.

Leasing Facilitation

The lease negotiations for this new location were facilitated by Newmark, a firm recognized for its expertise in handling commercial real estate transactions. The commitment to expand into this vibrant neighborhood underscores the area’s attractiveness for businesses looking to thrive amid a burgeoning community.

Conclusion

With the addition of this new space, Blue Panda Office Spaces is well-positioned to enhance its services in Brooklyn, reflecting the area’s dynamic growth and the increasing appeal of Williamsburg as a hub for both commercial and residential activity. As the demand for office spaces rises, Blue Panda’s expansion signifies an important milestone in its ongoing development.

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STAFF HERE WILLIAMSBURG WRITER
Author: STAFF HERE WILLIAMSBURG WRITER

WILLIAMSBURG STAFF WRITER The WILLIAMSBURG STAFF WRITER represents the experienced team at HEREWilliamsburg.com, your go-to source for actionable local news and information in Williamsburg, James City County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Williamsburg Farmers Market, Yorktown Market Days, and Busch Gardens Food & Wine Festival. Our coverage extends to key organizations like the Greater Williamsburg Chamber of Commerce and Colonial Williamsburg Foundation, plus leading businesses in education and hospitality that power the local economy such as College of William & Mary, The Williamsburg Winery, and Sodexo. As part of the broader HERE network, including HEREVirginiaBeach.com, we provide comprehensive, credible insights into Virginia's dynamic landscape.

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