French ad firm Havas signs one of 2012’s largest office deals

April 02, 2012 08:30AM

Hudson Square landed one of the biggest office lease deals of the year, the Wall Street Journal reported, as French ad firm Havas signed for 260,000 square feet at 200 and 205 Hudson Street.

After searching in more than 35 different buildings with Newmark Knight Frank NY Tri-State Region President David Falk, including Class A Midtown properties, the ad firm settled on space in two Trinity Real Estate spaces, keeping it in the Hudson Square area its called home for more than two decades. The lease will consolidate Manhattan operations for the company, which was previously spread across offices in 350 Hudson Street, 195 Broadway and the Flatiron building at 110 Fifth Avenue.

As the Journal noted, the area has become a haven for media, technology and advertising companies thanks to its “hip” image.

Landlord Trinity Real Estate is a division of Trinity Church, the largest property holder in the neighborhood, according to the Journal. The rent for the space in the was in the mid-$40s per square foot and the deal brings Trinity’s portfolio-wide vacancy rate to just 6 percent. [WSJ]