386 Park Avenue South
William Macklowe Company has attracted a high-profile new media firm for another of its full-floor pre-built spaces at 386 Park Avenue South, the 20-story Midtown South office building undergoing repositioning.
Profero, a global communications agency specializing in digital advertising and marketing, has leased the entire 13,121 s/f pre-built 13th floor at the building for its new Manhattan headquarters.
Profero expects to relocate from its current offices at 28 West 25th Street by summer 2013.
“Our high-end pre-builts have been well-received by the new media, creative and technology-focused users in this submarket,” said Billy Macklowe, who finalized a similar full-floor lease with mobile application publisher MoPub last month.
Sam King and Gerry Miovski of CBRE represented Profero in the long-term lease, while the building’s leasing agents, Paul Amrich, Neil King, Ross Zimbalist and Kerry Powers of CBRE, represented the building’s owners, a partnership of William Macklowe Company and Principal Real Estate Investors, LLC.
Asking rents at 386 Park Avenue South are in the $50 to $60 range.
Founded in London in 1998 by brothers Daryl and Wayne Arnold, Profero expanded in Europe, Asia and Australia before entering the U.S. market in 2008. Its roster of top-tier brands includes Diageo, HTC, Lufthansa, Mini, Pepsi and Western Union.
As part of a major capital improvement plan, 386 Park Avenue South is undergoing an upgrade of its streetscape and front entrance, a full renovation of its lobby, and will also have new elevators and cabs, as well as LEED certification. The building’s new lobby and expanded entranceway is expected to be completed by the fourth quarter of this year.
