The Trade Desk inks 49K sf sublease with Gilt Group

Ad tech firm relocating to Morgan Stanley’s 2 Park Ave. from William Fung’s 286 Park Ave. South

TRD New York /
Jul.July 13, 2016 08:00 AM

Advertising-technology firm the Trade Desk, which is reportedly heading for an initial public offering, is wasting no time upgrading to bigger digs.

The seven-year-old company is relocating to 2 Park Avenue, where it’s signed a sublease with online fashion retailer Gilt Groupe for 49,000 square feet.

The startup currently occupies 13,121 square feet at William Fung’s HSR Corporation’s 386 Park Avenue South, according to CoStar, and is almost quadrupling its footprint with the move several blocks north.

The company is taking over the full fifth floor from Gilt Groupe for the remaining six years of its lease at Morgan Stanley’s 2 Park Avenue, where the online retailer inked a deal for two full 49,000-square-foot floors in 2010.

CBRE TRData LogoTINY negotiated both sides of the deal, which a source not connected to the transaction said was inked at $64 per square foot.

The Trade Desk is one of many companies in the rapidly expanding yet volatile ad-tech field where technology is used to automate the advertising-buying process. In recent years, similar companies such as Collective Media and Rocket Fuel have grown at break-neck speed, only to slash their real estate footprints when the companies had to cut back.

According to the advertising industry blog AdExchanger, the Trade Desk’s revenues grew 7,000 percent in 2014 to $202.1 million, and the company may already be in the process of submitting paperwork with the Securities and Exchange Commission indicating plans to file for an IPO.

Forbes Magazine named the firm America’s 9th most promising company.


Related Articles

arrow_forward_ios
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
CBRE CEO Robert Sulentic (Credit: Getty Images, iStock)

CBRE plans cuts to NYC tech team

CBRE plans cuts to NYC tech team
The Black Rock bulding at 51 West 52nd Street and Viacom CEO Bob Bakish (Credit: Google Maps, Getty Images)

The price is right? CBS asking more than $1B for Sixth Ave HQ

The price is right? CBS asking more than $1B for Sixth Ave HQ
51 West 52nd Street and ViacomCBS CEO Bob Bakish (Credit: Google Maps and Getty Images)

Following merger, Viacom could sell CBS’ Midtown HQ

Following merger, Viacom could sell CBS’ Midtown HQ
William Shanahan (Photo by Studio Scrivo)

The Closing: Bill Shanahan

The Closing: Bill Shanahan
mary ann tighe

WATCH: Mary Ann Tighe on rebuilding Lower Manhattan after 9/11

WATCH: Mary Ann Tighe on rebuilding Lower Manhattan after 9/11
Who needs New York? Garden State multifamily portfolio trades for $146M

Who needs New York? Garden State multifamily portfolio trades for $146M

Who needs New York? Garden State multifamily portfolio trades for $146M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...