The Real Deal New York

Dentsu Aegis expands to 206K sf at Midtown’s Mobil Building

British marketing firm takes another 57K sf 150 East 42nd Street

August 18, 2015 11:05AM

The Mobil Building at 150 East 42nd Street in Midtown

The Mobil Building at 150 East 42nd Street in Midtown

British digital marketing firm Dentsu Aegis Network is expanding its New York presence with an additional 57,000 square feet at the Mobil Building, at 150 East 42nd Street.

The move takes Dentsu Aegis’ space at the 42-story Midtown office building to a total of 206,000 square feet over four floors, with the company’s New York office having grown to 900 employees over the past three years.

Dentsu Aegis’ expansion is indicative of how media companies – classified as TAMI tenants in the commercial real estate industry – are increasingly driving the city’s economic growth, according to the Wall Street Journal.

The company’s parent, Tokyo-based advertising giant Dentsu, expanded its New York footprint two years ago with a 10-year, 37,000-square-foot lease at Rudin Management’s 32 Sixth Avenue in Tribeca.

Real estate investors David Werner and Mark Karasick purchased the Mobil Building’s long-term ground leasehold for $855 million last year. The office tower houses the New York headquarters of Wells Fargo. [WSJ, 1st]Rey Mashayekhi