Marketing Agency Signs Lease at Savanna’s 5 Hanover Square


Marketing and branding agency Escalate has signed an 11-year lease for 9,750 square feet across the ground floor and mezzanine of 5 Hanover Square where asking rent is in the mid to high-$30s.

As part of the lease, Escalate will have a private entrance to the building on Beaver Street. The marketing agency will build out its office space with an open layout, according to Andrew Kurd, associate at Savanna, the landlord.

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“We’re looking forward to having Escalate in the building,” Mr. Kurd told The Commercial Observer. “We’re excited for them to move in.”

hanover Marketing Agency Signs Lease at Savanna’s 5 Hanover SquareEscalate specializes in promoting brand advocacy. The firm’s clients have included Coca Cola, Royal Bank of Canada, Sara Lee, Michelob and others.

The property at 5 Hanover Square, which Savanna acquired in late 2010, was the recipient of a recent $7 million capital improvement plan that included a new cooling tower, modernized elevators and a fully remodeled lobby.

The Escalate lease brings the 25-story office property to 96 percent occupancy, with two available spaces currently being marketed—a 7,105-square-foot prebuilt space on the 22nd floor and a fully furnished 6,203-square-foot space on the 5th floor. Proposals are expected on each in the coming weeks, according to Mr. Kurd.

Frank Cento, Jonathan Fein and Carlos Suarez of Cushman & Wakefield represented the landlord. David Menaged of Intrepid Real Estate Group represented the tenant.

As reported by The Commercial Observer, law firm Jones Jones doubled its space at 5 Hanover Square to 9,215 square feet in August.