Financial News Company Acuris Heads Uptown
By Rebecca Baird-Remba July 24, 2018 6:00 pm
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Acuris, the financial media company formerly known as Mergermarket Group, has inked a deal for new office space at the Paramount Building at 1501 Broadway in Midtown, Commercial Observer has learned.
The 19-year-old news provider subleased 41,308 square feet from video software company Telaria on the eighth floor of the 32-story office tower between West 43rd and West 44th Streets, sources familiar with the deal told Commercial Observer. The sublease will run through the end of Telaria’s lease in 2025. Asking rent wasn’t disclosed.
The company currently occupies 38,740 square feet on the entire fourth floor of 330 Hudson Street. It plans to move its offices in October.
Greg Wang, Eric Cagner and Matthew Siegel of Newmark (NMRK) Knight Frank represented Telaria, and Jamie Katcher and Sebastian Infante of Cushman & Wakefield (CWK) handled the transaction for Acuris. The C&W team is marketing Acuris’ current space as a sublet through 2028. They declined to comment via a spokesman.
“It was a testament to the tremendous quality of the space that the subtenant is relocating from Hudson Square,” Wang wrote to CO in an email.
Acuris owns several financial news products, including Mergermarket, Dealreporter and Debtwire, as well as legal research services like Xtract Research and Hedge Fund Law Report. The company rebranded from Mergermarket to Acuris last summer after its owner, private equity firm BC Partners, sold a 30 percent stake in the firm to Singaporean sovereign wealth fund GIC.
