ABS Partners Real Estate has signed a 12,250 s/f lease at 162 5th Avenue for Amobee, Inc.
Amobee, a digital advertising technology company, will occupy the building’s entire 10th floor, which formerly housed Payless Design Studio.
Amobee preferred a short-term lease and accepted the former studio and showroom on an as-is basis, in exchange for a mid-$60 per square foot base rent.
Jay Caseley and Joe D’Apice of ABS Partners represented the landlord, 162 5th Associates, in the transaction, while Matt Felice and Gil Ohls of Jones Lang La Salle represented Amobee.
“162 5th Avenue has stable ownership that is able to offer competitive lease terms in order to attract quality tenants to its upcoming full floor availabilities,” said Caseley.
“During the third quarter of 2015 we will have approximately 50,000 rentable square feet, which was occupied by Creative Artists Agency, turning over in the building. We are preparing for new tenants with the renovations already underway.”
