HookLogic Signs Sublease at 99 Hudson Street
Gus Delaporte Oct. 29, 2013, 7:30 a.m.
Ecommerce media company HookLogic has signed a four-year, 11,721-square-foot sublease from BGB New York on the ninth floor at 99 Hudson Street, The Commercial Observer has learned.
The tenant will pay rent in the low-$50s per square foot, according to data from CompStak.
The rent HookLogic will pay is slightly higher than the BGB’s current rent for the space, which is in the high-$40s per square foot. The sublandlord, a biopharmaceutical marketing and advertising firm, signed a 10-year, 25,000-square-foot lease to relocate to 462 Broadway in Soho earlier this year.
HookLogic, which will relocate from 455 Broadway, closed last month on $14.3 million in Series B funding led by Intel Capital. In 2011, the company received $9.5 million in Series A funding from Bain Venture Capital.
With a focus on the retail, auto and travel sectors, HookLogic offers online advertising services to a variety of brands. In February, the company launched its Retail Search Exchange, a service that allows brands to bid for product ad inventory across multiple retail platforms. The company, which employs 95 people in its New York and Ann Arbor, Mich. offices, is also expanding its traditional service line into the consumer electronic, toy and home goods sectors.
With staff growth on the horizon—the company plans to hire between 15 and 25 employees on the technology and engineering teams in the coming months—HookLogic quickly realized its space in Soho could no longer accommodate the rapidly expanding company’s needs.
The tenant was represented by Sacha Zarba, Sam Spillane and Jeff Sharon of CBRE.