The Real Deal New York

Rockrose signs 41K sf in leases at 300 PAS

Lieberman Research, Creative Circle filling void on floors below FanDuel HQ
By Mark Maurer | June 20, 2017 03:00PM

Justin Elghanayan and 300 Park Avenue South

Rockrose Development TRData LogoTINY signed a trio of leases totaling roughly 41,000 square feet at 300 Park Avenue South in recent months, the firm said.

The developer sought to fill the vacant space on the floors below the penthouse triplex occupied by FanDuel, the billion-dollar fantasy sports startup that has a pending merger with rival DraftKings.

Texas-based marketing research consultancy Lieberman Research Worldwide and staffing agency Creative Circle signed full-floor leases at the ninth and seventh floors in the past month, respectively. Publicly traded software firm Bazaarvoice signed for the 11th floor in February. The floor plates at the 14-story, 170,000-square-foot office building are each about 13,700 square feet. Asking rents average in the mid-to-high $70s per square foot.

The new tenants are replacing public-relations firm M. Booth, marketing analytics company Hitwise and advertising agency Leo Burnett Company. The eighth floor, one of two floors that were occupied by Leo Burnett, is the building’s only unclaimed floor.

A Cushman & Wakefield team led by Josh Kuriloff and Andrew Braver and Rockrose’s Rob Fink represented the landlord in the deals.

Savills Studley’s Greg Taubin represented Lieberman, Cushman’s Andrew Ross represented Creative Circle, and CBRE’s Sacha Zarba, Jared Isaacson and Alice Fair represented Bazaarvoice.

Shortly after FanDuel signed a lease at the building in 2015, its fate was unclear amid a crackdown from regulators on fantasy sports. Sources said FanDuel’s lease remains intact, though the Federal Trade Commission plans to sue to block the FanDuel-DraftKings merger.

(To view more of Rockrose Development’s office leasing transactions, click here)