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Two Leases Total More than 200,000 SF at 111 Eighth

NEW YORK CITY-111 Eighth Ave. is proving to be a popular address as Deutsch Inc. renews and increases its space and DoubleClick relocates its headquarters in the 15-story building.

By Barbara Jarvie | Updated on July 29, 2003

NEW YORK CITY-Advertising agency Deutsch Inc. and DoubleClick, a provider of marketing tools for advertisers, direct marketers and web publishers, both signed new leases at 111 Eighth Ave. totaling more than 200,000 sf. Financial details of the deals were not released, however space in the building ranges from $25 to $32 per sf.

“111 Eighth Avenue stands at the intersection of media and technology, supported by fashion boutiques, galleries, restaurants, and other corporate and creative users in this dynamic midtown south submarket-a dynamism reflected and reinforced by the space choices of these prime tenants,” says Andrew J. Nick, a principal at Taconic Investment Partners LLC, the owners and managers of the property. The team of Scott Panzer and Robert Silver of Newmark & Co. were brokers for Deutsch Inc., while Paul Ippolito and Michael Ippolito, also of Newmark & Co., were the brokers for DoubleClick.

Deutsch is expanding its presence at the Chelsea location by 23,000 sf and will be leasing a total of 128,000 sf of space on the fourteenth and fifteenth floors. The term of the renewal and expansion is 10 years. “Our decision to expand our business here is reinforced by the expanding Chelsea business center and by the services 111 Eighth Ave. provides to its tenants,” says Donny Deutsch, chairman and CEO of Deutsch Inc.

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