Digital Marketing Firm DataXu Inks 8,732-Square-Foot Midtown South Deal
Billy Gray May 23, 2013, 3:14 p.m.
The digital marketing firm DataXu signed a five-year, 8,732-square-foot lease at 373 Park Avenue South, The Commercial Observer has learned.
John Lord, a senior managing director at ATCO Brokerage Services, represented the landlord, ATCO Properties & Management. Jack Petrie, the president of Office Lease Center represented the tenant. Asking rent was $48 a foot.
DataXu will relocate from 900 Broadway to the entire fourth floor of the 12-story Midtown South tower–home to the flagship Dos Caminos Mexican restaurant–on Park Avenue South between 26th and 27th Streets. The new facility is due to open this summer. The tenant was founded by aeronautics and astronautics scientists from the Massachusetts Institute of Technology.
“That a firm from Massachusetts decided on a New York location, and one right in the heart of New York’s hottest submarket, is very telling,” said Kate Goodman, a co-president of ATCO.
Ms. Goodman added that the single-tenant floors of 373 Park Avenue South are now 100 percent occupied. And she said that while tech and marketing tenants continue to play a major role in Midtown South’s viability, ATCO’s local properties have a broad tenant base.
“We have a sister building at 381 Park Avenue South,” she said, “and between the two there’s a wide variety, from Hanky Panky lingerie to law firms to party planning and event strategy companies.”
Mr. Petrie could not immediately be reached for comment.