Faced with an unanticipated wave of tenant demand for large office spreads in Brooklyn, developers are regretting not being more aggressive with their projects.
Office tenants are seeking as much as 100,000 square feet for a single space in Brooklyn, in sharp contrast to the market just a few years ago, the developers said during a panel at TerraCRG’s Only Brooklyn Summit at the Brooklyn Academy of Music.
“I wish our building was five times as big,” Tim Quinlan, whose Quinlan Development Group is building a 257,000-square-foot office conversion at 41 Flatbush Avenue in Downtown Brooklyn, said Tuesday. “A residential developer for the last 10 years choosing to build office – it’s unheard of,” TerraCRG broker Dan Marks, who moderated the panel, said, referring to Quinlan.
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