Marketing Company Expands Footprint at 5 Manhattan West [Updated]
By Brady Dale January 27, 2015 11:23 amreprints
Interpublic Group of Companies has expanded the space it plans to move into at 5 Manhattan West at 450 West 33rd Street between Ninth and 10th Avenues, according to a spokeswoman for the company. The marketing firm signed a lease to move into the building in the middle of last year. It recently updated that plan to augment its footprint in the building by 52,350 square feet, to a total of 278,000 square feet, as part of a 15-year deal. Interpublic is expected to move in at the end of 2015.
Cushman & Wakefield’s Bruce Mosler led the team representing the landlord, Brookfield (BN) Office Properties, along with Josh Kuriloff. Scott Panzer of JLL represented the tenant in the transaction.
Jerry Larkin, the senior vice president at Brookfield, told Commercial Observer, said “The continued growth of tenants moving to the neighborhood just confirms our excitement about Manhattan West and the future, which is happening now, of the Hudson Yards district.”
The building announced a $200 million redevelopment last year, as CO previously reported. Mr. Larkin said that the interior renovations got underway in the Fall and exterior work started in December. A subsidiary of Interpublic, R/GA announced that it was relocating to the building, as CO previously reported.
None of the brokers were immediately available for comment.
Update: This story has been edited to include a comment from Jerry Larkin, the senior vice president at Brookfield Office Properties, and to clarify that Interpublic has expanded its lease in the building before moving in, rather than renewing an existing lease.