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

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
Michael Remer and Richard Hodos (JLL, Getty)
Top retail broker Richard Hodos jumps from CBRE to JLL
Top retail broker Richard Hodos jumps from CBRE to JLL
From left: VTS CEO Nick Romito and CBRE CEO Bob Sulentic (VTS, CBRE, Getty Images)
VTS raises $125M in CBRE-led funding round
VTS raises $125M in CBRE-led funding round
From left: CBRE's Daniel Kaplan and William Shanahan along with 231 East 76th Street and 340 East 52nd Street (Google Maps, CBRE, LinkedIn/Daniel Kaplan)
TRD Pro: Here are NYC’s top portfolio deals of the quarter
TRD Pro: Here are NYC’s top portfolio deals of the quarter
A photo illustration of Alexander Wang and a rendering of the Fulton Market Building (Getty Images, SHoP Architects)
TRD Pro: New York City’s biggest retail leases of July
TRD Pro: New York City’s biggest retail leases of July
Street Partnership's Dan Biederman with Herald Square
“We’re not alarmed:” Herald Square retail in reverse
“We’re not alarmed:” Herald Square retail in reverse
Paycheck potential: A look at real estate’s top earners
Paycheck potential: A look at real estate’s top earners
Paycheck potential: A look at real estate’s top earners
SpringHealth CEO April Koh, 60 Madison Avenue and Moinian Group’s Joseph Moinian (SpringHealth, VTS, Moinian)
Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue
Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue
CBRE CEO Bob Sulentic (Illustration by The Real Deal with Getty, CBRE)
Inside CBRE: How much do pros at the brokerage powerhouse make?
Inside CBRE: How much do pros at the brokerage powerhouse make?
arrow_forward_ios

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

Loading...