News - New York
Avison Young arranges new 42,625-square-foot sublease on behalf of Index Exchange, Inc.November 17, 2021
New York, NY – Avison Young’s New York City office announced today that it has arranged a new 42,625-square-foot (sf) sublease for Index Exchange, Inc. (Index), a global advertising technology company, at 3 World Trade Center (WTC). Index will be relocating and expanding its New York headquarters to the entire 39th floor of the building from its previous 11,000-sf location at 20 West 22nd Street in Flatiron, where the company had been located for six years. Index will occupy the space effective immediately.
Avison Young New York-based Senior Director Brooks Hauf, Director Peter Johnson and Client Services Coordinator Leah Zafra along with Toronto-based Principals Ben Sykes and Jeff Flemington represented the subtenant in the negotiations.
“This transaction signifies Index Exchange’s long-term commitment to expanding its New York City footprint, indicating office occupiers’ restored faith in the Manhattan market,” said Hauf. “Despite tight time constraints and navigating our search during the height of the pandemic, we were able to successfully negotiate a competitive incentives package and deal that allowed our client to secure a high-end space aligned with their expansion needs.”
Index Exchange is a global advertising marketplace enabling media owners to grow revenue by helping marketers reach consumers on any screen, through any ad format. The company initially began its search in early 2020, looking for a new, high-quality sublease space in an area that would provide optimal service to customers and efficient access for employees before pausing lease negotiations with 3 WTC during the COVID-19 pandemic. Over the course of the next 12 months, Avison Young implemented a new strategy tailored to the client’s post-pandemic requirements, including rapid growth and flexibility, ultimately securing a long-term sublease for a pre-built space in the same building of their choice.
Avison Young’s New York City Project Management team, led by New York-based Principal Kirsten Beck, will oversee the further build-out of Index Exchange’s new office at 3 WTC. As Index Exchange’s global real estate advisory, Avison Young also helped the company secure 100,000 sf at The Well, Toronto’s first mixed-used live-work-play destination, where Index agreed to a 12-year lease beginning in 2022. Construction of Index’s space at the Well in Toronto is is currently underway following the company taking title in September 2021.
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About Index Exchange
Index Exchange is a global advertising marketplace enabling media owners to grow revenue by helping marketers reach consumers on any screen, through any format. Headquartered in Toronto, Index has nearly 20 years of experience accelerating the evolution of ad technology for the world’s leading experience makers. To learn more, visit www.indexexchange.com or @indexexchange.
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