Avison Young announced the completion of a 50,965 s/f long-term office lease with advertising technology company, Tremor Video, at The Paramount Building in Times Square.
The brokerage represented Paramount Leasehold in the lease at the Art Deco commercial tower at 1501 Broadway. The team included principal and tri-state president Arthur J. Mirante, II and principal Michael Gottlieb, along with senior associate David Cohen and associate Thomas Hines.
Avison Young serves as the exclusive office leasing agent for The Paramount Building, a destination for theatre and entertainment industry tenants that is currently being repositioned to also attract tenants in the technology and creative sectors.
Tremor Video will be relocating from 16,000 s/f at 53 West 23rd Street and expanding to the entire eighth floor at The Paramount Building, where the company will initially occupy 33,490 s/f and then occupy the balance of its space at the building in 2015 as it becomes available.
The company was represented in its lease by the CBRE team of Sacha Zarba, Christopher Corrinet, Jared Isaacson and Cara Chayet.
“Signing tenants of the quality of Tremor Video is an affirmation of our success in repositioning The Paramount Building to attract a wide variety of companies seeking unique modern spaces in a premier Times Square location,” said Mirante.