When Business Insider began searching for a new World Headquarters in New York’s Flatiron district a few years ago, I was worried that this was the beginning of the end for the company.
After all, the “New Global Headquarters” curse is notorious in the tech industry: When your favourite hyper-growth company announces that it’s developing a massive new corporate campus (e.g., Apple), it’s often time to run for the hills.
Also, I was scarred by the memory of several high-profile companies in the dotcom era that were ultimately bankrupted by their aggressive real-estate bets. Inktomi, The Industry Standard, and others were dragged down in part by massive long-term leases that cost hundreds of millions of dollars to get out of.
So, at Business Insider, we went the conservative route, getting a relatively short sub-lease on a great space on 20th Street.
Even this seemed like a big bet: When we moved in, there was oceans of space–so much that it was hard to imagine that we would ever fill it up, let alone need more of it.
And yet, a couple of years later, thanks to the dedication of our readers, clients, and team, we’re bursting at the seams.
Happily, this is what is known as “a high-quality problem,” and we have a couple of options we’re looking at. One of them is adding a small, temporary expansion office.
And that’s where we could really use your help.
If you know of a company that has, say, 8,000 square feet of space that they would like to sub-lease to us for a year, we’d be grateful for the referral.
Ideally, this space would be in the Flatiron District, but we’re not picky.
Thanks in advance for the help!
NOTE TO COMMERCIAL REAL-ESTATE PROFESSIONALS: We’re already working with a firm, so there’s no need to reach out to us unless you know of something specific. If you do, please drop an email to our president, Julie Hansen ([email protected]). Thank you.
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