TubeMogul, a publicy traded enterprise software platform for digital branding, is relocating to 114 Fifth Avenue at the southwest corner of West 17th Street from the Union Building to accommodate the company’s anticipated growth, brokers in the deal told Commercial Observer.
Emeryville, Calif. based Tubemogul has subleased the entire ninth floor, totaling 19,326 square feet, at the L&L Holding Company building from online news venture First Look Media, which holds a 10-year lease for the floor (First Look Media has additional space in the building) expiring June 2024. CO first reported news of First Look Media’s lease in the building in March 2014.
TubeMogul will be leaving its current digs at 853 Broadway at the southwest corner of 14th Street, which it will put on the sublease market with Newmark Grubb Knight Frank. The 114 Fifth Avenue sublease is for five years.
NGKF’s Eric Cagner, Gregory Wang and Jonathan Tomasco represented TubeMogul in the transaction. Savills Studley‘s Ken Ruderman, Gary Stein and Chris Brandt represented First Look Media in the deal. NGKF declined to provide the asking rent.
“We were delighted to once again advise TubeMogul in the next stage of their growth, and help them lease space in a first-class asset which was redeveloped by L&L,” said Mr. Cagner in prepared remarks. “The large floor plate which can accommodate all employees on one floor, coupled with the premiere nature of the building with its brand new lobby and roof deck, made the building a desirable choice. In addition, we found a terrific partner in the sublessor, First Look Media, who agreed to deliver the premises in a fashion that spoke to the TubeMogul brand.”