Wholesale Retailer Relocates and Quadruples Headquarters in Soho

By Alexandra Pacurar, Associate Editor

451 Broadway, Soho

New York—Bulk Delivery Co. has signed a long-term lease for a new office space of 12,912 square feet on 451 Broadway in Soho. The new Boxed headquarters is just a few blocks away from their former location at 110 Greene St., measuring only 3,000 square feet.

“We love being in Soho and are thrilled that we’ll be able to continue to grow our footprint in this exciting, dynamic area of Manhattan”, said DJ Williams, Vice President of Partnerships for Boxed.

The structure at 451 Broadway was built in 1865 and modernized almost six decades later. The abundance of natural light makes it a perfect office space solution. Rents in Soho, one of Manhattan’s hottest submarkets, average $70 per square foot.

Savills Studley Corp. Managing Director Zev Holzman represented the tenant and negotiated the four party transaction which involved the landlord, Crale Realty, but also Ideo and SquareSpace, companies that had been under lease for the extensive commercial property.

“Through creative thinking we were able to create an opportunity for Boxed to expand on a long term basis within a very tight sub-market. The space itself is equally as exciting with a high end installation, large, home-like kitchen and open floor plan – all of which we acquired with minimal capital expense”, said Zev Holzman, Savills Studley Corp. Managing Director, in a prepared statement.

Boxed is a mobile app that represents the alternative to brick and mortar big box shopping. Created in 2013, it allows consumers to receive their everyday essentials at their doorstep.

Savills Studley is part of London-based Savills plc and it specializes in conflict-free representation of tenants in their commercial real estate transactions.

Image via Google Street View