Online Ad Network Expands on West 31st Street
Collective Media LLC, an online advertising network and technology provider, has taken an additional 5,250 rentable square feet (”rsf”) on the 6th Floor at 254 West 31st Street. The expansion brings Collective’s total space in the building to 9,850 rsf, as it already occupies space on the 12th Floor. Michael Smith and Jack Petrie of CresaPartners represented the tenant in the lease negotiations.
Strategic Acquisition of Personifi
“Collective Media has been steadily growing and has recently made a strategic acquisition of Personifi, so they definitely needed to expand,” said Mike Smith, SVP of CresaPartners. “This space was ideal because it was in move-in condition, with furniture and phones and available immediately. The expansion space also enabled the tenant to remain in the same location, conveniently located directly across from Madison Square Garden and Penn Station.”
According to Jack Petrie, SVP of CresaPartners, “New York City is an excellent place for technology startups, like Collective Media, to recruit talent, and we have helped many of them locate offices that fit their business models, budgets and cultures.”
CresaPartners’ Technology Resume
In addition to Collective Media, CresaPartners has represented several venture capital-backed technology firms such as 3PAR, Acxiom, Buddy Media, Datran Media, Gorilla Nation, Light Reading and PixFusion. The firm has also worked with major tech behemoths such as Amazon.com, Electronic Arts, EMC, Interactive Corporation, Oracle and Symantec.
About Collective Media
Collective Media is a leading online advertising network specializing in audience targeting and optimization solutions to increase relevancy and yield for both publishers and advertisers, reaching 79 million unique users monthly. Collective offers the largest network of online news sites including The Associated Press, Gannett, Tribune, Belo Interactive, Hearst Newspapers and NBC Universal. Founded in 2005, Collective is privately held and headquartered in New York City. Investors include Greycroft Partners and iNovia Capital.
About 254 West 31st Street
254 West 31st Street is a 59,660 rsf building located directly south of Madison Square Garden between Seventh and Eighth Avenues. Tenants include TruisiSuk Architecture and Tanenbaum Center for Interreligious Understanding.
You must be logged in to post a comment.