Mediaocean, a developer and provider of advertising software, is relocating to RXR Realty’s 620 Avenue of the Americas after signing a 14-year, 88,387-square-foot lease for a portion of the property’s sixth floor. Asking rent was in the low-$60s.
The tenant, which has 80,000 users and processes $130 billion annually, is relocating from 115 West 18th Street. Mediaocean, headquartered in New York, also operates offices in Atlanta, Chicago, New Jersey, Los Angeles and Louisville in the United States. International locations include Toronto, Paris and London.
Built in 1896, the 700,000-square-foot building at 620 Avenue of the Americas features ceiling heights of up to 17 feet, 100,000-square-foot floor plates. Over the past 18 years, the Flatiron property has received $18 million worth of capital improvements.
As reported by The Commercial Observer both Grey Advertising and Spotify were eyeing space at 620 Avenue of the Americas last year.
The tenant was represented by Sacha Zarba, Greg Tosko, Freddie Fackelmayer, Ben Friedland and Greg Maurer-Hollaender of CBRE in New York. Bill Elder represented RXR Realty in-house.
CBRE declined to comment further citing client confidentiality. Mediaocean and RXR Realty did not return requests for comment.
