September 10, 2018
Represented by Denham Wolf Real Estate Services, the criminal justice reform leader is latest to join a diverse community at the Sunset Park campus.
NEW YORK, NY – September 10, 2018 – The Vera Institute of Justice (Vera) along with its broker and project manager, Denham Wolf Real Estate Services (Denham Wolf), today announced that the leading criminal justice reform nonprofit will be relocating its headquarters to Industry City, a state-of-the-art commercial and district overlooking the waterfront in the Sunset Park neighborhood of Brooklyn. Vera plans to move from its current headquarters in Tribeca to the 16-building, 6 million square-foot innovation campus.
“The move to Industry City makes perfect sense for Vera. More so than ever before, our task is to drive significant reform of our justice system, injecting innovation and big ideas. Industry City – and Brooklyn – is dynamic, diverse and a central hub for innovation and invention. It is a great place for us to call home. We will have room to grow, and will be closer to many of the communities we serve locally,” said Nicholas Turner, president of the Vera Institute of Justice.
Vera’s new Industry City offices will be the headquarters of its vital local and national work transforming justice. Since the success of the Manhattan Bail Project in 1961, which pioneered the bail reform movement, Vera has been on the forefront of justice reform, producing big ideas and solutions that ensure fairness, respect dignity, promote safety, and strengthen families and communities. In recent years, Vera has been growing in both size and scope, a transition reflected in its choice of new offices.
Vera has signed a 15-year lease to move into a new 35,000 square foot office space at Industry City in Fall 2019. The lease was signed in August 2018. Vera was represented in the transaction by Denham Wolf, a real estate firm that provides services for the New York City nonprofit community. Kathe Chase and Jeff Fein of Industry City’s internal leasing team represented Industry City.
"When identifying a site for Vera, several considerations came into play," said Paul Wolf, co-president of Denham Wolf. "The space needed to suit Vera in the present and well into the future. In addition to practical concerns, such as affordability and access to public transit, Vera’s core values had to be at the heart of our search. We are confident that the Industry City location will bolster Vera and its partners for years to come.”
“As a leader in the non-profit world, Vera is an exciting addition to Industry City’s diverse community of innovative companies, the majority of which are driving meaningful change in their respective fields,” said Kathe Chase, director of leasing at Industry City. “There are natural opportunities for collaboration between Vera and the many nonprofits, academic partners, and progressive companies based at Industry City. We are delighted that Vera made the decision to relocate its headquarters, from downtown Manhattan to IC.”
The strategic redevelopment of Industry City—launched in 2013 by Belvedere Capital and Jamestown—has generated significant leasing activity and job creation at the property. Over the past five years, Industry City has invested over $300 million into the property and leased more than 3 million square feet of space, including 1 million square feet of manufacturing space—its highest level in decades. Throughout this period, businesses based at the property have collectively grown by an average of 100 jobs per month, more than tripling from 1,900 jobs in 2013 to 7,000 jobs today. Industry City is accessible by the D, N, R trains at 36th Street, one express stop from Atlantic Terminal and two from Manhattan.
When fully fit-out, Vera’s new offices will be connected by a central stair that enhances connectivity among staff and showcases local artistry. Other key elements of the design respond directly to staff requests and include diverse workspace options, flexible meeting and presentation space, and an on-site café. STUDIOS Architecture is leading the design of Vera’s new offices. Denham Wolf is serving as Vera’s project manager in the office’s interior fit-out.
About the Vera Institute of Justice
The Vera Institute of Justice is a justice reform change agent. Vera produces ideas, analysis, and research that inspire change in the systems people rely upon for safety and justice, and works in close partnership with government and civic leaders to implement it. Vera is currently pursuing core priorities of ending the misuse of jails, transforming conditions of confinement, and ensuring that justice systems more effectively serve America’s increasingly diverse communities.
About Denham Wolf Real Estate Services
An essential resource for New York City’s nonprofit community, Denham Wolf Real Estate Services provides expertise in transactions, development, and project management. Through these integrated services, the firm empowers organizations to take a thoughtful, mission-first approach to real estate. Denham Wolf has partnered with hundreds of diverse nonprofit organizations since its founding in 1998, shaping millions of square feet across New York City.
About Industry City
Industry City is a 6 million-square-foot mixed-use complex comprised of 16 buildings spanning 35 acres on the waterfront in Sunset Park, Brooklyn. The property’s ownership – led by Belvedere Capital, Jamestown and Angelo Gordon & Co. – is transforming the complex, while cultivating a diverse tenant mix that fuses today’s burgeoning innovation economy with traditional manufacturing and artisanal craft. To date, the transformation has included over $250 million of infrastructure improvements, the addition of destination courtyards, experience-driven dining, retail and other amenitization and event programing. This work is paving the way toward a vibrant and diverse community of forward-thinking companies that support good-paying jobs for workers across skill and experience levels. Since the new partnership was forged in August 2013, businesses based at Industry city have grown by an average of 100 jobs per month, increasing employment from 1,900 jobs in 2013 to 7,000 jobs today. www.industrycity.com