The Real Deal New York

Verve Wireless inks lease for bigger digs in Union Square

Company signs 10-year lease for 21,500-square-foot space

April 25, 2016 10:37AM

79 Fifth Avenue in Union Square

79 Fifth Avenue in Union Square

Mobile ad firm Verve Wireless Inc. is swapping its Union Square headquarters for a bigger space just a few blocks away.

Verve inked a 10-year lease at 79 Fifth Avenue for a 21,500-square-foot office. The new office, which spans the entire fourth floor, is more than triple the size of the company’s current digs at nearby 44 West 18th Street.

The company, which has about 60 employees working out of 44 West 18th Street, needs more space for its growing work force, John Fitzgerald, chief financial officer, told the Wall Street Journal.

Financial information for the deal was not immediately available, but the asking rent was $134,375 per month — roughly $75 per square foot, according to Agorafy. Lansco Corp. represented landlord A&R Kalimian in the deal, and Vicus Partners LLC represented Verve. [WSJ]Kathryn Brenzel

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