GlobeSt.com EXCLUSIVE: Advertising Firm Takes HQ Space at 850 Third Ave.

NEW YORK CITY-In a relocation move that more than doubles its space, Titan Outdoor has inked a deal for 11,858 sf at 850 Third Ave., the so-called “Discovery Builiding.” The provider of outdoor and transit advertising signed a long-term deal and will move 40 employees from its current global headquarters at 540 Madison Ave.

The 563,000-sf Midtown-area asset, which has a unique “wedding-cake” design” is owned, leased and managed by Equity Office Trust. The site is now nearly 95% occupied. In July of 2004, Discovery Communications Inc., parent of the Discovery Channel, signed a 16-year commitment for 150,940 sf to become the anchor tenant. Though specifics of the Titan deal were not released, advertised rent for the site is $49 per sf.