Two Trees developer Jed Walentas initially aimed to lease the nearly 500,000 square feet at the Refinery at Domino, the former Brooklyn sugar plant, to a single tenant. Although this did not materialize, the building has achieved notable success, recently reaching 90% occupancy.
The Refinery at Domino, notable for its glass-wrapped facade surrounding a historic 167-year-old brick structure, has become the commercial hub of Domino Park, part of Two Trees’ expansive six-acre development on the Williamsburg waterfront. This $150 million transformation, completed in 2023, has attracted a variety of companies in the tech, media, and AI sectors.
Recent leasing activity includes a 10,380 square-foot space for Bandana, a local job search platform, and an additional 11,000 square feet for Skylight, which specializes in hospitality event spaces. Current office tenants at the Refinery include Whop, Plastic Lab, LayerZero, and Minerva, while luxury fitness brand Equinox occupies the largest non-office space with 42,000 square feet.
In related news, Lululemon has announced its forthcoming location at 4 World Trade Center, taking over the former H&M store there. This expansion marks another positive development for the World Trade Center complex, where construction for the new American Express headquarters is expected to begin soon.
Why this story matters
- Highlights the ongoing transformation of urban spaces and the shift in office leasing trends post-pandemic.
Key takeaway
- The Refinery at Domino’s rapid achievement of 90% occupancy underscores its attractiveness to various business sectors.
Opposing viewpoint
- Some analysts may question the sustainability of high occupancy rates in a changing workplace environment, emphasizing the risk of future vacancies.
