Ever since the Big Shake-up last year, both Marvel and DC have been the subject of much speculation regarding moves, with some guessing that Marvel might move to Disney’s offices in White Plains…or to Burbank. However, it seems that preserving the Pixar-like independence for Marvel is still a priority, as they are staying in town and merely moving a few blocks uptown.
While an announcement of some kind is expected today about DC’s possible West Coast move, the NY Observer confirms that Marvel is moving to newer uptown offices, , 135 West 50th Street, the same address as Sports Illustrated and EW. The House of Ideas will take over the 60,000 sq. ft. office on October 1 — or…next Friday.
“Marvel Entertainment’s current lease at 417 Fifth Avenue was expiring within the year and this was a great opportunity to house its headquarter offices on one floor,” said Robert Silver of Newmark Knight Frank, who represented the tenant. Robert Alexander and Christopher Mansfield of CB Richard Ellis represented Alliance Bernstein.
A move for Marvel was seen as likely not only due to their expiring lease but also because the old offices were considered way too small and cramped. However, the new digs are not much of an upgrade on that score — although the new uptown address is more prestigious than the old Murray Hill.
The building’s average rental is around $54 per sq. ft.