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Deals & Dealmakers

Digital advertising firm Criteo expands at TF Cornerstone’s 387 PAS

Digital advertising company Criteo is expanding its footprint at TF Cornerstoneʼs 387 Park Avenue South.

The $3 billion Paris-based firm, which has more than 2,500 employees in 30 offices worldwide, has amended its lease to add the entire 20,000 s/f ninth floor.

The move brings Criteoʼs full footprint at the repositioned building to over 82,000 s/f spanning floors nine through 12 plus the penthouse at the top of the 13-story, 215,000 s/f property.

The penthouse gives Criteo exclusive access to a roof deck created during the multi-million renovation carried out by TF Cornerstone which included a new lower glass façade, new lobbies, new mechanicals and all-new retail.

A Cushman & Wakefield team led by Peter Trivelas and Dirk Hrobsky represented Criteo in the expansion. Matt Leon led the  NGKF team representing TF Cornerstone.

The expansion leaves only one floor available at 387 PAS. The 20,000 s/f third floor, which comes available next month, has the brand new floor-to-ceiling glass façade, a move that has helped elevate the popularity of lower floors among tenants eager to secure premier office space in the tight Midtown South market, where rents rose to a record $72 psf last year, according to NGKF.

Asking rents at 387 Park Avenue South are in the mid $70s per square foot.

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