Leases  ·  Office

Demandbase Relocates to 16K-SF Midtown Offices From Chrysler Building


Growing marketing technology company Demandbase has signed a 15,931-square-foot lease at Equity Office’s 114 West 41st Street to relocate its New York offices, Commercial Observer has learned.

The company will occupy the entire prebuilt ninth floor of the 22-story building, which is located between Avenue of the Americas and Broadway near Bryant Park, according to information the landlord provided. The lease is for five years, according to a spokeswoman at Demandbase.

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Demandbase plans to move its offices in the next few weeks from a suite on the 35th floor of the Chrysler Building, located at 405 Lexington Avenue between East 42nd and East 43rd Streets. The 260-person company currently has about 40 employees in its New York offices and will be able to expand to about 90 workers in its new location on West 41st Street.

“Demandbase has expanded rapidly and outgrown our current space in the Chrysler Building,” Chris Golec, CEO of Demandbase, said in a prepared statement. “We chose 114 West 41st Street for its convenient location and industrial startup tech feel, which has enough space to more than double our New York team.”

Demandbase has offices in San Francisco, Seattle and London, according to its website.

Its new prebuilt digs at West 41st Street have high-end finishes, an open layout, nearly 13-foot ceiling heights, polished concrete floors, exposed brick and a pantry with a kegerator. The asking rent in the deal was in the mid-$70s per square foot, according to a source with knowledge of the transaction.

“Our prebuilt floors, along with the building’s unique amenity program, proved to be the optimal fit for an innovative company like Demandbase,” Equity Office’s Scott Silverstein, who handled the deal for the landlord in-house with colleague Zachary Freeman, said in prepared remarks.

Silverstein and Freeman worked alongside Newmark (NMRK) Knight Frank’s Erik Harris, Scott Klau, Ben Shapiro and Zach Weil. CBRE (CBRE)’s Freddie Fackelmayer and Ramsey Feher handled the transaction for Demandbase. The CBRE brokers did not immediately return a request for comment via a spokeswoman.