NEW YORK CITY-Ad agency Interpublic Group of Cos. has inked an 86,000-square-foot lease at Malkin Properties' 1400 Broadway here.
Interpublic's lease on the lower floors of the 37-story building at 38th Street involves space that was formerly occupied by a host of small showrooms, according to the Wall Street Journal. The building owner has invested more than $100 a square foot in repurposing 1400 Broadway from a garment-oriented property into corporate office use. The 932,393-square-foot building houses corporate offices for Verifone, and Kohl's department store.
The advertising agency was represented by a team led by Scott Panzer of Jones Lang LaSalle. The company, one of the top four advertising agencies in the county, is moving offices on 23rd Street in the Flatiron area and on Sixth Avenue in the SoHo district to its new address on Broadway. See story in the Wall Street Journal.
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