Canvas Worldwide Reups at 75 Varick
By Nicholas Rizzi September 27, 2023 4:17 pm
reprints
Media and communications agency Canvas Worldwide will keep its headquarters at 75 Varick Street.
Canvas signed a seven-year renewal for its 18,149-square-foot offices on the second floor of the 17-story building, also known as One Hudson Square, according to owner Hudson Square Properties, a joint venture among Hines, Norges Bank Investment and Trinity Church Wall Street.
A spokesperson for the landlord declined to provide the asking rent, but the average asking rent in Hudson Square was $84.61 a square foot in the second quarter of 2023, according to a Cushman & Wakefield report.
Canvas, which was founded in 2015, is co-headquartered in New York and Los Angeles and also has outposts in Chicago, Dallas, Denver and Atlanta. It moved into the Hudson Square space in 2018, according to the landlords.
“This new lease with Canvas exemplifies how Hudson Square is rapidly becoming the workplace of choice for the creative class,” Alexis Michael, managing director of Hines, said in a statement. “The authenticity and high-quality amenities at 75 Varick provide the inspiration and collaborative atmosphere essential for leading companies like Canvas to innovate and retain talent.”
The building is part of a portfolio of 13 office buildings owned by Hudson Square Properties that includes 555 Greenwich Street, 160 Varick Street and 225 Varick Street. Other tenants in 75 Varick include insurance company Oscar Health and The Atlantic Philanthropies.
Newmark (NMRK)’s David Falk, Peter Shimkin, Jonathan Fanuzzi, Jon Franzel and Brittany Silver represented the landlords while Nick Farmakis of Savills handled it for Canvas.
Spokespeople for Newmark and Savills did not immediately respond to requests for comment.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
