Lease Beat

Interpublic Group Signs Lease at 1400 Broadway

1400broadway

The Interpublic Group of Companies (IPG) has signed a lease for 87,000 square feet at 1400 Broadway, a spokesperson confirmed with The Commercial Observer. Three New York-based subsidiaries of the advertising conglomerate will relocate to 1400 Broadway by the end of the year from their current offices in Flatiron and Soho.

IPG, considered a “big four” advertising agency, is headquartered at 1114 Avenue of the Americas and also operates a U.S. regional office in Omaha, Neb.

The building at 1400 Broadway is owned by Malkin Holdings via W&H Properties. Currently, the building boasts 10,627 square feet of available space on the 10th floor, available immediately, according to the W&H Properties’ website. Read More

Lease Beat

Focus Financial Partners Takes Nearly 12,000 SF at 825 Third Avenue

825 Third Avenue

Focus Financial Partners has signed an 11,923-square-foot office lease at The Durst Organization’s 825 Third Avenue in Midtown East.

The partnership of wealth management firms relocates to the 40-story, 544,000-square-foot office tower from the 7,400-square-foot space it previously occupied at 909 Third Avenue.

“The building offered a well-priced alternative along Third Avenue with great light, city views and an efficient floor plate configuration,” said Greg Kraut, principal and managing director of Avison Young’s New York City office in a statement, who represented the tenant with Dana Trulis and Paul Massey.  “We are very pleased to have been able to identify a new office location for Focus that effectively addresses the firm’s business needs… this area of Third Avenue has become a destination for companies in search of value in a strategic Midtown locale with great access to transportation.” Read More

Lease Beat

IPG Completes Big Third Avenue Deal

909 Third Avenue

Interpublic Group has signed a 220,000-square-foot lease at 909 Third Avenue according to people with direct knowledge of the deal.

The large advertising and media conglomerate will move several subsidiaries it controls to the new space, the largest of which will be Weber Shandwick, a major public relations firm, which will relocate from nearby 919 Third Avenue. Read More