Publicis Groupe inks lease for office at Industry City

Ad giant's production arm is latest TAMI tenant to sign at BK mega complex

New York /
Jul.July 21, 2016 05:00 PM

One of the “Big Four” advertising agencies is saying “oui” to Brooklyn. French colossus Publicis Groupe inked a lease for its first Kings County office, at the Industry City complex in Sunset Park, sources told The Real Deal.

Prodigious, the production arm of Publicis, would take about 15,000 square feet at the 6 million-square-foot complex, sources said. Rents at Industry City range from $15 to $35 per square foot.

It was not immediately clear if brokers were involved. Industry City’s Brett Harvey and Jeff Fein, who handle leasing in-house, could not be reached for comment.

Publicis’ New York headquarters remains Rudin Management’s 1675 Broadway, where it struck a deal last year to expand to more than 604,000 square feet  at the Midtown tower. There, asking rents are in the $70s per square foot.

Maurice Levy, the CEO of Publicis for the past three decades, plans to step down next year, according to Bloomberg. The 90-year-old company, the third-largest advertising group in the world, has been struggling amid several contract cancelations.

A spokesperson for Publicis could not be reached for comment.

The developers of Industry City – Jamestown, Belvedere Capital and Angelo, Gordon & Co. – are planning an overhaul of the complex, including the creation of a 1,200-foot-long retail hub and the repositioning of a 500,000-square-foot block of space that would be devoted solely to TAMI tenants.

Other tenants at the complex include MakerBot, Time Inc., West Elm, the Brooklyn Nets and the Gap.


Related Articles

arrow_forward_ios
Marvin Azrak of Maguire Capital and An aerial of 6208 8th Avenue (Google Maps)
Shahs of Sunset Park: Maguire, Watermark acquire massive Brooklyn dev site
Shahs of Sunset Park: Maguire, Watermark acquire massive Brooklyn dev site
New York Embroidery Studio's Michelle Feinberg and the Brooklyn Army Terminal (New York Embroidery Studio, Getty, iStock)
Garment biz leases 80K sf at Brooklyn Army Terminal
Garment biz leases 80K sf at Brooklyn Army Terminal
 Industry City' Andrew Kimball with New York (LinkedIn, Google Maps, iStock)
Adams to tap Industry City CEO Andrew Kimball to run EDC: reports
Adams to tap Industry City CEO Andrew Kimball to run EDC: reports
DH Property Holdings’ Sunset Park warehouse project (Bridge Development)
Last-mile project, resi rentals nab biggest outer-borough loans
Last-mile project, resi rentals nab biggest outer-borough loans
Brodie Ruland of ASB Real Estate Investments in front of 5112 2nd Avenue in Brooklyn (ASB Real Estate Investments, LoopNet)
ASB, 60 Guilders sell Sunset Park warehouse for $85M
ASB, 60 Guilders sell Sunset Park warehouse for $85M
Porsche and Volvo sign leases at Industry City
Porsche and Volvo sign leases at Industry City
Porsche and Volvo sign leases at Industry City
Rendering of 6208 Eighth Avenue (Raymond Chan Architects)
Massive Sunset Park project flounders and an EB-5 investor sues
Massive Sunset Park project flounders and an EB-5 investor sues
The South Brooklyn Marine Terminal (Google Maps; Waterfront Alliance)
State to develop wind turbine plant on Brooklyn waterfront
State to develop wind turbine plant on Brooklyn waterfront
arrow_forward_ios

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

Loading...