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Tech Company Expands Retail and Office Space

NEW YORK CITY-Ricoh Corp. signed two leases, to take 6,200 sf of retail space and 18,500 sf of office space. The new locations are within a half block of each other.

By Katie Hinderer | Updated on October 27, 2006

NEW YORK CITY-The digital office equipment company, Ricoh Corp. was growing out of its Manhattan retail and office spaces and opted to find new space rather than renew its previous leases. The company will take 18,500 sf of office space at 711 Third Ave. and 6,200 sf for its retail component at 144 East 44 St., according to Kurt Burdack, of CB Richard Ellis’ Global Corporate Services Group.

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.

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