As Downtown leasing activity by media companies continues unabated, gyro, a global business-to-business advertising agency, is relocating to Lower Manhattan and expanding its office space by nearly double its current size.
The firm has signed an 11-year lease that will make them the only tenant to occupy an entire floor at 115 Broadway, a landmarked 21 story office property located on the corner of Broadway and Cedar Street.
Gyro’s current address is 31 West 27th Street and expects to relocate in the 4th quarter of 2014.
Savills Studley’s executive managing director, I. Keith Ellis represented gyro in the long-term transaction.
According to Ellis, gyro’s rapid growth required the company to seek out a new headquarters space on a larger single floor.
“gyro required an open design and connectedness in a signature Manhattan office building,” he said, noting that their new space at 115 Broadway provides state-of-the-art infrastructure in a “beautifully restored” landmarked office building. “It’s an ideal mix of historic and modern.
Continuing its global expansion, gyro’s new Manhattan lease comes on the heels of its recently-announced Chicago office re-location. The award-winning agency has expanded to larger locations in its London and Denver markets as well.