Berkey of L&L Holding Co. brokers a 184,000 s/f lease for Omnicom at 195 Broadway

In a deal that represents a boost to the downtown business district and its continuing diversification, Omnicom, an advertising agency, has leased 184,000 s/f comprising 4½ floors at the million s/f office building at 195 Bdwy. The distinctive 29-story landmarked property, which is owned by L & L Holding Co., LLC, and an affiliate of the General Electric pension trust advised by GE Asset Management, is strategically located between Lower Manhattan's two major public transportation hubs - the Fulton St. and Calatrava Path Transit Centers. The lease brings 195 Bdwy. to 100% occupancy. Headquartered at 437 Madison Ave., Omnicom expects to begin relocating a number of its Midtown and Midtown South units into 195 Bdwy. during the third quarter of next year. A global leader in advertising and media buying, Omnicom's decision to establish a major presence at 195 Bdwy. is the latest example of the evolving tenant mix in a downtown marketplace that has historically been dominated by financial services firms. "Our vision for this building was to attract companies in the creative fields of advertising and media," said L & L chairman and CEO David Levinson. "Obviously, we're ecstatic that one of the preeminent advertising companies on the planet has chosen 195 Bdwy. as its new home." Feld Real Estate, LLC represented Omnicom in the 15½ year leasing transaction, which includes options for expansion. David Berkey of L & L Holding Co., LLC, along with Howard Fiddle and Brad Gerla of CB Richard Ellis, Inc., represented the landlord. The Omnicom Group includes three advertising brands - BBDO Worldwide (287 offices in 77 countries), DDB Worldwide(206 offices in 96 countries) and TBWA Worldwide (239 offices in 75 countries).