Mobile Advertising Company to Relocate to Macklowe’s 386 Park Avenue South
Mobile advertising company MoPub will relocate to a 13,121-square-foot prebuild on the 12th floor of Billy Macklowe’s 386 Park Avenue South in June, the New York Post reported earlier this week.
The mobile company, currently based at 71 Gansevoort Street in the Meatpacking District, offers an advertising serving platform for mobile application publishers, allowing clients to manage advertising on both iPhone and Android devices. Headquartered in San Francisco, MoPub was founded by former Google and AdMob employees and is backed by venture capital groups Accel Partners, Harrison Metal Capital and Jafco Ventures.
William Macklowe Company acquired 386 Park Avenue South last September in a deal reported to be worth between $110 and $120 million. New ownership quickly instituted a plan to reposition the 20-story building, including creating a prebuild program on two of the building’s 13,000-square-foot floors. The renovation process is ongoing, including upgrades to the front entrance, lobby and elevators, the Post reported.
Tim Gibson of Cushman & Wakefield (CWK) represented the tenant in the transaction, according to the Post report. Paul Amrich, Neil King, Ross Zimbalist and Kerry Powers of CBRE (CBRE) represented the landlord.
MoPub, C&W and CBRE did not return requests for comment.