Communications Agency Joins Midtown ‘Fashion Building’
InVision Communications has inked a 12,015-square-foot deal at 550 Seventh Avenue between West 39th and West 40th Streets, according to a press release from the landlord’s broker.
The agency will occupy the entire 17th floor of the Adler Group-owned 25-story office building. Asking rent in the eight-year deal was $60 per square foot.
The firm—with clients like kitchenware retailer Williams-Sonoma and biopharmaceutical company Bristol-Myers Squibb—currently at 535 Eighth Avenue between West 36th and West 37th Streets, where it occupies the 19th floor of the building. It will be moving to its new location this fall.
Michael Heaner and Sam Stein of Kaufman Organization represented the landlord while Robin Fisher and Christie Bennett of Newmark Grubb Knight Frank represented the tenant.
“The creative agency represents the first steps in repositioning the building to a modern, mixed-tenant building,” Heaner said in prepared remarks. “[The building] is outfitted with the capabilities to support the growth of creative companies, ranging from technology to architectural firms, and we look forward to attracting this diverse mix of high-quality tenants.”
Other tenants in the building include designer fashion brands like Badgley Mischka, Ralph Lauren and Lilly Pulitzer. Women’s fashion brand Donna Karan International occupied the 14th to the 17th floors of the building before leaving the building this January, Commercial Observer previously reported.
At that time, the landlord had noticed that fashion brands were spreading across the city, no long concentrated in the Midtown area, while creative tenants were occupying more office buildings. The Kaufman Organization marketed the building and was actively looking for creative tenants to bring in an eclectic mix.
“InVision is relocating from a building where they were on non-contiguous floors,” Bennett emailed CO. “[The building] presented the perfect opportunity to stay in the immediate area and create a collaborative environment on one full floor. The landlord developed a space plan that enhances InVision’s company culture and allows room for future growth.”
The Wall Street Journal first reported news of the deal.
