The Real Deal New York

Ricoh USA to take 30K sf at SL Green’s 711 Third Avenue

Company is consolidating its four office spaces
March 14, 2017 11:00AM

711 Third Avenue and Ricoh’s Zenji Miura

Imaging and electronics company Ricoh USA inked a lease for more than 30,000 square feet at SL Green Realty’s 711 Third Avenue.

The firm, a subsidiary of Japanese giant Ricoh Company, is ditching its offices in three other Manhattan buildings and on the 14th floor of SL Green’s 711 Third Avenue, the New York Post reported. The company is instead taking 30,469 square feet on the second and 18th floors of the Midtown East building — the former space for offices and the latter for showroom space.

Ricoh was represented by CBRE on the deal, while SL Green was repped in-house.

Other tenants in the 585,000-square-foot building include Ackman-Ziff Real Estate, Media Assembly and Golenbock, Eiseman, Assor, Bell & Peskoe LLP. SL Green purchased the building in the late 1990s, though price details of the deal are not available in property records. The real estate investment trust briefly tried to sell the property in 2011 but took it off the market after three months after not receiving what it deemed a high enough offer. [NYP] — Kathryn Brenzel