Burdack and colleague Carolyn Sica have handled all of Ricoh's transactions nationally since 2000. Ricoh's current building, which the company will remain in until the end of the first quarter when it can move into the new space, held both the office and retail components under one roof.
"They were outgrowing the amount of space they had," Burdack tells GlobeSt.com. "It was our goal to keep them if not in the same building, then in very very close proximity." Finding a facility that could offer both was extremely difficult, especially in the Grand Central Station area. "Ultimately, our best locations for both were within a half block of each other," Burdack says.
The company will fill the 14 floor at 711 Third Ave, which totals 18,500 sf. The company's current office space is 14,000 sf. The retail portion will grow from the current 4,500 sf to 6,200 sf. CBRE's Project Management Group will handle the office build-out. Term of the leases were not released.
Ricoh was represented by Robert Gibson, Jedd Nero and Tom Citron of CBRE's Retail Group. Peter Braus, of Sierra Realty Corp., along with Paul Torres acted for the building ownership, Davidim A.G., in the retail deal. Roy Appel of CBRE negotiated the office portion of the transaction.
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