Tech companies seek space near advertising businesses on Madison Avenue
More and more of the big technology companies are interested in space in Manhattan, in particular because of their desire to Be Near The Advertising Companies On Madison Avenue, the New York Times reported. During the upcoming Advertising Week, Yahoo will be able to present its new offices in Viacom’s Times Square building to potential advertising clients, in a way that it wasn’t able to do before.
Yahoo’s Times Square suite at 1540 Broadway has purple-hued conference rooms, a lobby with custom graphics and door pulls shaped like exclamation points, and a dynamic design that are symbolic of a high-tech company. Facebook signed its deal with its larger, redesigned space, evocative of Silicon Valley, at 335 Madison Avenue in June, while Google’s $1.4 billion purchase of 111 Eighth Avenue was the city’s largest office transaction of the year. Google could also soon gain more space when the leases of other tenants expire.
Apple also recently expanded in the Flatiron District, where its mobile advertising division is located, signing a deal to increase its space at 100-104 Fifth Avenue to 45,000 square feet from 10,000, in a building also occupied by online companies like Yelp and Net-a-Porter. [NYT]