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Japanese ad agency moves to Madison Ave.

Japanese ad agency moves to Madison Ave.

The name Madison Avenue has long been synonymous with the advertising business. The association is so inextricable that Madison Avenue has become part of our lexicon to define the advertising industry. Madison Avenue, even appears in Webster's Dictionary in this regard.

The fact is, however only a few advertising agencies are actually on the fabled Avenue, the majority having relocated to Midtown South and beyond in search of more affordable office.

In a reversal of the decade-long trend, Hakuhodo Advertising America Inc., the U.S. subsidiary of Japan's oldest agency with worldwide billings in excess of $4.5 billion, has signed a long term lease at 488 Madison Avenue. The firm will occupy approximately 22,000 square feet according to Richard E. Charles 22,000 square feet according to estate firm, R.E. Charles & Company, which negotiated the transaction on behalf of Hakuhodo. The new location, between 51st and 52nd Streets, is in the heart of midtown Manhattan.
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Title Annotation:Hakuhodo
Publication:Real Estate Weekly
Date:Jul 3, 1991
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