Publicis Re-Ups and Expands Half-Million-Plus Square Foot Lease
Publicis Groupe, the global ad giant, has added another 100,000 square feet of space to the already enormous 480,000-square-foot lease that it is renewing at the Rudin family’s 1675 Broadway at West 52nd Street, according to a news release from Rudin Management.
Currently, Publicis occupies the second through 16th floors of the building, the majority of which is taken by Starcom MediaVest Group, the firm’s digital media buying division; Publicis/KTG, the company’s ad agency, takes up floors 28 though 30.
The additional 100,000 square feet is on the entire 24th through 27th floors of the 35-story tower and will be occupied by Publicis Worldwide North America, which is currently situated at 950 Avenue of the Americas and plans to move to its new home by the end of the year or early next year.“We’ve been working on this deal for a while,” Mr. Rudin said. “I would say over a year-plus.”
Publicis came to the building when it acquired the ad agency D’Arcy Masius Benton & Bowles, which was already headquartered at 1675 Broadway.
Joseph Thanhauser and Gordon Ogden of Byrnam Wood represented Publicis in the deal, who did not return calls immediately, and Robert Steinman, a vice president at Rudin, represented the building in-house.While the exact price per square foot for the Publicis deal hasn’t been released, Mr. Rudin told CO that there is currently another 177,000 square feet of available space in the building with asking rents in the mid-$70s per square foot.