Tishman Speyer has lastly stuffed the Wheeler.
Brooklyn Defender Providers, which supplies free authorized illustration, signed a 31-year lease for 212,000 sq. toes at 422 Fulton Avenue, the businesses introduced. The deal brings the constructing, often called the Wheeler, to full occupancy. Industrial Observer first reported the news.
The nonprofit joins a roster of tenants together with Brooklyn Prospect and St. Francis Faculty. BDS’ places of work will occupy six full flooring of the 10-story growth.
The asking lease was not disclosed, however the common workplace lease in Downtown Brooklyn was $54.85 per sq. foot in the first quarter of 2026, in line with Colliers.
The lease caps a yearslong effort to fill the Wheeler, Tishman Speyer’s workplace redevelopment atop what was previously Macy’s.
Tishman acquired the higher portion of the Fulton Avenue property from Macy’s in 2015 for $270 million, marking the developer’s first major project in Brooklyn. The corporate added 10 flooring of workplace house above the retailer’s flagship retailer whereas preserving the cast-iron facade. The constructing as soon as housed the historic division retailer Abraham & Straus till it was acquired by Macy’s in 1995.
The challenge’s leasing efforts received off to a promising begin. The developer initially landed Whittle School & Studios as an anchor tenant, however the deal unraveled in 2020 because the training startup struggled financially in the course of the pandemic.
The constructing has since leased up in phases. St. Francis College relocated to the Wheeler in 2022, whereas Brooklyn Prospect signed a 150,000-square-foot lease final 12 months for a brand new highschool campus.
Because the tenant roster grew, Tishman additionally shored up the challenge’s financing. In 2024, the developer secured a $301 million refinancing from Starwood Property Belief on the challenge.
Tishman Speyer was represented in-house by Megan Sheehan and a CBRE staff of Mary Ann Tighe, Joseph Cirone, Masha Dudelzak, Zachary Worth, Gerry Miovski. Jonathan Franzel and Ryan Gessin of Newmark represented BDS.
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St. Francis College takes 250K sf at new DoBro building
Tishman Speyer lands $301M refi on historic Macy’s building in Downtown Brooklyn
