Google is set to lease a 94,000 sq. feet space at Chelsea Market, according to the Wall Street Journal. After trying to expand further in its 111 Eight Avenue building, which cost the company $1.9 billion in 2010, but has met resistance from other tenants. Google even tried to offer buyouts to the said tenants. Google spilled over into the Chelsea Market real estate area about five years ago to house sales employees, but with the size of the new space and with a ten year lease, it is expected that there will be more than just sales employees working at the Chelsea location.
David Falk, of real-estate brokerage Newmark Grubb Knight Frank, which represented Jamestown Properties, owner of Chelsea Market, said, “Any time we can get big space [at Chelsea Market], it opens it up for the technology and media companies that are having trouble locating creative space that reeks of their image.”