Patreon Extends Its Sublease Hold at One Hudson Square

Patreon Extends Its Sublease Hold at One Hudson Square

Creator monetization platform Patreon has committed to remaining in Manhattan’s Hudson Square, signing a sublease renewal covering 44,661 square feet at 75 Varick Street, the 18-story office tower also known as One Hudson Square. The deal surfaced in CBRE’s monthly office report and was subsequently confirmed by the company.

The building is a cornerstone asset of the Hudson Square Properties portfolio, held through a joint venture between Trinity Church Wall Street and Norges Bank Investment Management. Hines had served as a minority investor and operating partner in the venture, but Commercial Observer reported in July that the firm would exit its position across the 13-property portfolio, with Brookfield potentially stepping in to take a 10 percent stake.

Key terms of the renewal — including its duration, the identity of the sublandlord, and the asking rent — were not disclosed. It also remains unclear when Patreon, which is headquartered in San Francisco, first occupied space in the building, and which brokers handled the transaction. Spokespeople for Hudson Square Properties and CBRE did not respond to requests for comment before publication.

For market context, Newmark data showed Hudson Square office rents averaging $91.02 per square foot in the second quarter of 2026.

Renewal activity defines the asset

Patreon’s decision fits a broader pattern of tenant retention at 75 Varick. Productivity software developer Notion and creative production firm RadicalMedia both renewed their leases in the building in January. Media company Horizon Media made an even longer commitment, signing off in March 2025 to retain its 360,000 square feet for an additional 17 years.

Renewals of this kind underscore how established tenants in the Hudson Square submarket — increasingly favored by media, technology, and creative firms — are choosing to extend rather than relocate, even as ownership of the underlying portfolio undergoes its own transition.

Neither Patreon’s renewal nor the potential ownership shifts immediately affected shares of major commercial real estate services firms; CBRE Group traded at $146.89 in recent action, down 1.24 percent from its prior close of $148.74, valuing the company at roughly $43.7 billion. Rival JLL slipped 0.29 percent to $360.48, with a market capitalization near $16.5 billion.

What to watch

• Whether Brookfield finalizes the reported 10 percent stake in the Hudson Square Properties portfolio and the timing of Hines’ exit.
• Disclosure of the renewal’s term, sublandlord, and economics, which could clarify how the deal compares with Hudson Square’s average asking rents.
• Additional renewal or new-lease activity at 75 Varick and across the Hudson Square submarket in upcoming brokerage reports.

Source: original release