Insignia/ESG executive managing director Richard Bernstein, managing director Clyde Reetz and consulting director Isaac Zion represented MPG in negotiating the 15-year sublease. GVA Williams represented sublessor True North with the permission of building owner Peter Kalikow.
MPG currently has operations at 110 5th Ave., 1180 Avenue of the Americas, and 345 and 350 Hudson St. The new space comprises the entire 12th and 14th floors of the 29-story prewar office building. The move is scheduled for Q1 2003.
According to Bernstein, MPG won't have to find sublease tenants for any of its current space. "We had termination rights on all four leases," he tells GlobeSt.com. "We're exercising those.
MPG was created in 1999 through a merger of Media Planning, founded in 1978, and Mediapolis, founded in 1980.
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