By Rich Bockmann on April 17, 2015.
The Interpublic Group, one of the “big four” global advertising shops, is expanding its Third Avenue footprint by more than 100,000 square feet, The Real Deal has learned.
The advertising giant – whose brands include McCaan Erickson, R/GA and Donny Deutsch’s Deutsch, Inc. – is moving its corporate group from Brookfield Office Properties’ 1114 Avenue of the Americas, otherwise known as the Grace Building, to Vornado Realty Trust’s 909 Third Avenue, where the ad firm already occupies some 220,000 square feet.
IPG will be subleasing 112,300 square feet on the 23rd through 25th floors and part of the 20th floor from Forest Laboratories.
JLL’s Scott Panzer, Robert Romano and Shannon Rzeznikiewicz represented the tenant. A CBRE team led by Howard Fiddle represented Forest Laboratories. Details about the rent were not divulged, but according to CompStak two recent subleases in the building rented in the $40s per square foot.
A number of Interpublic agencies, including the high-profile public relations firm Weber Shandwick, made the move to Vornado’s building in the summer of 2012 when they outgrew their space at nearby 919 Third Avenue.
In January, IPG inked a deal to expand to more than 278,000 square feet at Brookfield’s 450 West 33rd Street, also known as 5 Manhattan West, as TRD reported.