Advertising Giant IPG Grows at 1400 Broadway
The Interpublic Group of Companies, a “Big Four” advertising conglomerate, has expanded its office space at 1400 Broadway in Times Square to more than 100,000 square feet, according to landlord Empire State Realty Trust.
IPG inked a lease for 15,086 square feet on the 30th floor of the building between West 38th and West 39th Streets. Asking rent in the transaction was $75 per square foot, an ESRT spokesperson told Commercial Observer. The newest lease brings the company’s footprint in the building up to 101,647 square feet.
JLL’s Scott Panzer, Robert Romano, and Shannon Rzeznikiewicz represented IPG. Keith Cody handled the transaction in-house for ESRT, along with Scott Klau, Neil Rubin and Erik Harris of Newmark Knight Frank.
IPG leased 26,134 square feet at ESRT’s 111 West 33rd Street earlier this year, as CO previously reported.
IPG owns five major advertising companies — FCB, IPG Mediabrands, McCann Worldgroup, MullenLowe Group, and Marketing Specialists — in addition to a number of independent marketing agencies.