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Avison Young leasing digital property in the metaverse
June 13, 2022
Everyrealm’s MetaMall, 364,000SF of experiential retail space
New York, NY – Avison Young’s New York office announced today that it has been retained by Everyrealm as the exclusive leasing agent for its MetaMall in the competitive metaverse platform, Decentraland. It is a turnkey, digital retail property located at coordinates 100,18, in Decentraland’s Fashion District.
Peter Johnson, Director of Growth Technology Practice Group and Leah Zafra, Associate, both based in Avison Young’s New York office represent ownership, as the exclusive leasing agents for Everyrealm’s digital retail space. They also represent Everyrealm, the metaverse investment and developer company, in the leasing of their New York City headquarters currently located at 335 Madison Avenue.
“We’re excited to partner with Everyrealm in bringing the MetaMall to market. Major Fortune 500 brands and companies across the retail, fashion, finance, entertainment and gaming industries are occupying space in the metaverse at record numbers and we expect this trend to continue as companies begin to formulate best use cases for their business in metaverse,” said Johnson. “This is an innovative way for companies to reach a new customer base or target demographic that they may not have been exposed to with their existing, more conventional forms of e-commerce or digital advertising.”
MetaMall sits directly across from Everyrealm and JP Morgan’s other experiential retail development, Metajuku. It is six floors totaling 364,000 square feet (sf) of experiential retail space, including a lobby, two conference floors, a game floor and three floors available for lease. The leasable space consists of 121,000 sf which tenants will be able to curate and customize, design signage, branding and gain exposure to more than 300,000 active monthly Decentraland users.
“Avison Young is one of the few traditional commercial brokerage firms that understands metaverse real estate, and so it was a natural decision for us to work with them in leasing out the retail stores in our mall in Decentraland,” said Janine Yorio, CEO of Everyrealm.
Everyrealm is one of the most active investors in and developers of the metaverse ecosystem. It has holdings in 25 metaverse platforms, has developed more than 100 metaverse real estate projects, owns over 3,000 Non-Fungible Tokens (NFT’s) and manages an e-sports gaming guild that is a Decentralized Autonomous Organization (DAO). Everyrealm also operated Realm Academy, the premier online educational campus in the metaverse.
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Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.