Ad Agency Doubling Offices to 50K SF in Relocation to Brookfield Place
By Liam La Guerre March 7, 2017 4:01 pm
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Ad agency Rauxa has signed a 50,000-square-foot deal at Brookfield Property Partners’ 225 Liberty Street to relocate and double its offices, the landlord announced today in a release.
The woman-founded firm, which represents clients such as Verizon, Gap Inc. and TGI Fridays, expects to move its offices to part of the 43rd floor and the entire 44th floor (the top floors) of the office tower between South End Avenue and West Street. The asking rent in the 11-year transaction was $75 per square foot. And the company hopes to move in by the end of the year.
Rauxa is relocating from 100 Avenue of the Americas between Watts and Grand Streets, as The New York Post first reported. There the company occupies 25,000 square feet.
“Rauxa’s growth necessitated a long-term view of the kind of environment that best serves our agency’s great talent,” Gina Alshuler, the chief executive officer of Rauxa, said in a statement. “The space, designed for Rauxa, will accommodate our growing staff and lends itself to mirror the agency’s highly collaborative team approach to solving the evolving marketing challenges of our growing roster of clients.”
The advertising company’s new digs at the 2.67-million-square-foot building features 16-foot ceilings, and panoramic views of Lower Manhattan.
JLL’s Paul Glickman, John Wheeler, Michael Berman and Clayton Kline represented Brookfield, while a separate JLL team of Steven Rotter, Justin Haber and Transtar Real Estate’s Richard Miller brokered the transaction on behalf of Rauxa.
“Brookfield Place has become the home to an array of leading innovative companies from many different sectors,” Jeremiah Larkin, a Brookfield executive vice president, said in prepared remarks. “Rauxa epitomizes the creative-minded company that seeks a location that will help attract and motivate top talent.
Hudson’s Bay Company and Time Inc. are two other large companies that have relocated to 225 Liberty Street.
