Jones Lang LaSalle has completed a new, direct lease totaling 26,000 s/f for Felix/CityGrid Media, a division of IAC/InterActiveCorp, with Equity Office Properties at 229 West 43rd Street.
The performance-based local advertising service signed a five-year lease for 26,000 s/f of office space at the Class A, 747,852 s/f office building.
The tenant, Felix/CityGrid Media, was represented by Steven Rotter, managing director; Scott Panzer, vice chairman; and Ryan Masiello, vice president, all with JLL.
The team worked closely with Christian Bryan, global head of real estate, with IAC/InterActiveCorp. The building owner, Equity Office Properties, was represented by Brian Waterman, vice chairman; Lance Korman, executive managing director; and Jonathan Tootell and Brent Ozarowski, directors, all with Newmark Grubb Knight Frank.
“Felix/CityGrid Media had outgrown its existing offices and was looking to expand by moving to space in Midtown South,” said Rotter. “Equity Office Properties was so co-operative and initial negotiations went so smoothly that the tenant chose instead to relocate to 229 West 43rd Street. Felix/CityGrid Media wound up leasing the suite the building owner had created to market the property.”
“This was also the first lease completed at the newly renovated building, which was previously occupied by The New York Times,” said Masiello. “IAC appreciated the potential to expand other divisions of the firm within this iconic property.”
Felix/CityGrid Media will occupy a portion of the sixth floor at 229 West 43rd Street, which is located between Seventh and Eighth avenues, just one block from Port Authority Bus Terminal. The performance-based local advertising service firm is relocating to the building from its previous offices at Chelsea Market.
The tenant’s new space included a full kitchen, top-of-the-line furniture and a 5,000-square-foot, fully furnished useable terrace overlooking Times Square.