Ad Agency McCann Re Ups 450K SF Space in Midtown East
Ad giant McCann Worldgroup will keep its headquarters on Third Avenue in Midtown East for another 15 years.
Interpublic Group, McCann’s parent company, renewed its lease with Cohen Brothers Realty for McCann’s 450,000-square-foot offices at 622 Third Avenue between East 40th and East 41st Streets, The New York Post first reported. Asking rent was $70 per square foot.
McCann first moved into the 39-story tower in 2000 and occupies the entire second to fifth floors and 16th to 28th floors of the property, according to Cohen Brothers’ Marc Horowitz, who handled the deal in-house for the landlord.
Horowitz said McCann “went through an extensive citywide search” for new space before ultimately deciding to stay put at 622 Third Avenue.
“We’re excited that such a globally influential firm elected to remain and stay in this building,” Horowitz said. “This 15-year lease represents a 35-plus-year commitment to the building.”
JLL’s Scott Panzer, Shannon Rzeznikiewicz and Robert Romano represented McCann in the renewal. A spokesman for JLL declined to comment.
Cohen bought the 1-million-square-foot 622 Third Avenue for nearly $172 million in 1997 and other tenants include online job board Monster Worldwide, bottled water company Nestlé Waters and property manager FirstService Residential.