JLL arranges lease for viral skincare brand at 60 Charlton St. in the heart of Manhattan’s newest destination neighborhood
JLL announced that Bubble Skincare, the viral brand taking the beauty industry by storm, will open its first office at 60 Charlton St., the newly-developed boutique office building in New York City’s Hudson Square neighborhood.
Launched by entrepreneur Shai Eisenman in 2020, Bubble Skincare has become the go-to brand of Generation Z thanks to its science-based approach to affordable skincare. Since starting as a direct-to-consumer brand nearly three years ago, Bubble is now available at over ten thousand retail locations across Walmart, CVS and Ulta Beauty stores across the U.S..
The company will occupy 3,402 square feet of office space on the 5th floor of the jewel-box, 12-story building owned by AEW Capital Management in a joint venture with APF Properties and Drake Street Partners. Ownership will build out and furnish the space to align with the Bubble aesthetic to bring fun and function to the skincare space.
Shai Eisenman, Founder and CEO of Bubble, commented, “This is an exciting time for Bubble, and our new office at 60 Charlton provides us with dynamic new space where we can grow our brand and team.”
Located on the southwest corner of Charlton and Varick streets, 60 Charlton St. is a 98,400-square-foot, Class-A boutique office building situated between Disney’s 1.2 million-square-foot office campus, currently under construction at 137 Varick Street, and Google’s new 1.3 million-square-foot headquarters at St. John’s Terminal.
Ownership undertook a multi-million-dollar redevelopment of the property that restored the original architectural details, rehabilitated the building with modern mechanical infrastructure and added six newly-constructed stories to create a 12-story brick and glass curtainwall, steel and concrete-framed building with floorplates ranging from 9,000 – 6,500 square feet. The property is LEED Gold certified.
Tenant amenities include a boutique-hotel style lobby with a fireplace and seating area, a bike room and shower area, and an outdoor roof deck with kitchen service area. Additionally, ownership just completed two full-floor prebuilds for tenants focused on flexible move-in ready space that can be operational right away.
A JLL team that includes vice chairman Mitchell Konsker, executive managing director Benjamin Bass, and senior vice presidents Kristen Morgan and Carlee Palmer exclusively represent the 60 Charlton ownership group. Bubble Skincare was represented by JLL associate vice president Harrison Potter and associate Lance Yasinsky.
“Bubble was captivated by ownership’s thoughtful redevelopment of the property,” said Potter. “The building offers an environment that will inspire the Bubble team to pursue their vision of bringing healthy, clinical skincare products to a growing customer base.”
The transaction with Bubble follows a deal with music publisher Arcade Songs to create a destination ‘Artist House’ across 19,000 square feet on the entire second and fourth floors of 60 Charlton. International early-stage tech investor, Picus Capital, also leased the building’s 6,520-square-foot penthouse.
“The continued leasing momentum at 60 Charlton reflects ownership’s success in meeting the demands of contemporary companies seeking a distinct home,” said Bass. “With superior design, best-in-class amenities and modern infrastructure, the property aligns with the values of employers seeking collective and holistic growth.”
Situated at the nexus of SoHo, TriBeCa and the West Village, 60 Charlton is a short walk from three different subway lines, the PATH train to New Jersey, 10 minutes from Penn Station and 19 minutes from Grand Central Terminal. The neighborhood is acclaimed for its vibrant and eclectic collection of people, places and styles.
About AEW
For over 40 years, AEW Capital Management, L.P. (AEW) has provided real estate investment management services to investors worldwide. One of the world’s largest real estate investment advisors, AEW and its affiliates manage $90.7 billion of property and securities in North America, Europe and Asia (as of June 30, 2023). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, Denver, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in seven European cities. For more information, please visit www.aew.com.
About APF Properties
APF Properties is a fully integrated real estate investment firm, with a two million square foot commercial office portfolio valued at approximately $1.4 billion. Led by Kenneth Aschendorf and Berndt Perl, the company’s key competitive success factor is the repositioning of assets through extensive building upgrades, additions, re-tenanting and innovative branding campaigns. In New York it’s focus is on boutique buildings in ‘A’ locations which it has acquired and transformed into best-in-class properties utilizing their hands-on expertise and establishing an enviable track record delivering superior returns to its investors.
About Drake Street Partners
Drake Street Partners is a private real estate company that utilizes its extensive expertise to invest in real estate in the New York metro area. The company creates value for investors by acquiring and improving properties and focusing on repositioning, renovation, and intensive asset management. Drake Street Partners owns and operates over 1,500,000 square feet of properties with a total valuation in excess of $400 million. Stuart Milstein founded Drake Street Partners in January 2015 and has acquired over $5 billion of real estate assets. He has worked on the asset management, repositioning and lease-up of over five million square feet, primarily in the New York area.
About Bubble Skincare
Bubble Skincare, one of the fastest-growing Gen Z skincare brands, offers an affordable array of high-quality, clinically approved products designed to help consumers feel more confident by addressing their particular skincare needs. Bubble has cultivated a highly engaged community who offer input and feedback on the brand’s formulations, product names and even its vibrant packaging. As part of its commitment to their consumers well-being, Bubble donates 1% of its sales from its ecommerce business to nonprofit organizations that support teens and young adults struggling with mental health issues, along with an ongoing partnership with BetterHelp. Bubble products are available at Hellobubble.com and in more than 10,000 stores across North America, including Ulta Beauty, CVS and Walmart. Bubble is now available on UK-based etailer Beauty Bay, a destination for the beauty obsessed; expanding Bubble’s availability across the U.K., Europe, Australia and beyond.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
