EYE will be leaving its offices at 747 Third Avenue and moving downtown to the heart of the Financial District at 48 Wall Street.
The out-of-home advertising firm specializes in four base categories: fly (airport signature), shop (mall media), drive (roadside billboards), and study (higher education), according to its web site. The firm operates across the United States and in Australia, New Zealand, Indonesia, and the United Kingdom.
“They were in growth mode and downtown made more financial sense with the increased footage after touring midtown options,” said Oliver Petrovic, a broker at the Vortex Group LLC and representative of EYE.
The new office will be a 4,770-square-foot unit that takes up the entire 29th floor. The building was built in 1927 and spans 34 stories with more than 324,000-square-feet of office space.
“[The] historic building, unconventional address, the building/terrace offered unique feature that fit their brand and it was convenient to transportation,” Mr. Petrovic added, “There really were a number of benefits to them relocating downtown.”
Rick Marek, a colleague of Mr. Petrovic at the Vortex Group, also represented the tenant. The landlord, Swig Equities, was represented by an in-house broker, Jonathan Dean.
Swig Equities, LLC is a real estate development, investment, and management firm based in New York City. In recent years, Swig Equities has purchased over three billion dollars worth of properties including the notable 48 Wall Street, 5 Hanover Square, 110 William Street, and 90 Broad Street.
mewing@observer.com
