NEW YORK—Crain Communications has signed a 15-year, 58,527-sq.-ft. lease to occupy the ninth and 10th floors at 685 Third Ave. CBRE’s Mary Ann Tighe, David Hollander, Ken Meyerson, Paul Stimpfle and Brendan Herlihy represented Crain Communications in the transaction, while Robert Alexander, Howard Fiddle and Zachary Freeman, also of CBRE, negotiated on behalf of the landlord, TIAA-CREF.
The publisher, which is currently located at 711 Third Ave., will move into its new offices by year’s end.
“The transaction, which was a result of a comprehensive review of the entire Manhattan market, culminated in allowing Crain Communications to stay in Midtown within one block of Grand Central,” said Meyerson. “The building is being beautifully renovated with a Gensler-designed lobby and pocket park, and the floor plates allow for densities which will significantly reduce Crain Communications’ total envelope of space.”
TIAA-CREF is currently embarked on a major capital renovation of the property, which is slated to wrap up this summer. Improvements include a pocket park with Wi-Fi, water feature, living wall, seating and café.
Located between 43rd and 44th streets, 685 Third Ave. stands 31 stories tall and contains 646,422 sq. ft. of space. The building is a 31-story, 646,422-sq.-ft. office tower located between 43rd and 44th streets.