Exponential Interactive, a global provider of advertising intelligence and digital media solutions to brand advertisers, has leased the entire 11th floor at 292 Madison Avenue, comprising 11,113 square feet of pre-built, contemporary open floor office space designed by Mufson Partnership. It is the third technology firm to move into the building in little over a year, joining Borderfree.com, formerly Global E-Commerce, Qliktech and IDG. Moreover, Borderfree.com doubled its original footprint within the first year at the building.
“This lease is a further testament to the successful re-positioning of the property,” points out Gerard Nocera, principal of Herald Square Properties, the asset management firm. “Madison Avenue south of 42nd Street has become one of the city’s most active hi-tech corridors and our Soho-style pre-built offices are clearly conducive to these new tenant categories.”
Representing the owner in the transaction were William G. Cohen, executive vice president, and Ryan Kass, senior managing director, of Newmark Grubb Knight Frank. The tenant was represented by Cassidy Turley’s Nicky Heryet and Stephen Bellwood, vice president.
Adds Mr. Kass, “We have been attracting high quality and credit tenants to 292 Madison Avenue as a result of the Soho-style pre-built campaign. Exponential Interactive is a growing organization with an impressive client roster that includes Master Card, BMW, HP and Verizon, which brings even more cachet to the building.”
Beginning in mid-September, the building will begin a nine-month renovation of the retail portion at 292 Madison Avenue. Plans include the restoration of 7,000 square feet of ground-level retail, re-cladding the facades in glass on both Madison Avenue and 41st Street, and a possible expansion to the third floor. The design additionally calls for significant interior enhancements, the restoration of Art Deco architectural sculptures above the facades and, maximizing the building’s street presence and sight lines along Madison Avenue. Jeffrey Roseman, executive vice president of Newmark Grubb Knight Frank Retail, is the exclusive broker.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.