New York

Legal technology firm signs for 100,000 square feet at 685 Third Avenue

Epiq CEO Tom Olofson and <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/685-3-Avenue-New-York-NY-10017/1013170001-0" target="_blank" data-address="685%203%20Avenue%2C%20New%20York" data-label="685%20Third%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F685-3-Avenue-New-York-NY-10017%2F1013170001-0" data-bbl="1013170001" data-blockValue="01317" data-lotValue="0001" data-zipcode="10017" data-bldgArea="559%2C755" data-bldgDepth="130" data-bldgFront="100" data-landUse="Comm%20%26%20office%20buildings" data-lotArea="31%2C129" data-lotFront="201" data-lotDepth="155" data-retailArea="26%2C190" data-resArea="0" data-officeArea="533%2C565" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="O4" data-primaryZoning="C5-3" data-commercialOverlay="" data-far="10" data-buildable="311%2C290" data-airRights="-248%2C409" data-propertyNeighborhood="Turtle%20Bay" data-latitude="40.7515814020993" data-longitude="-73.9733296518505" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-3-Avenue-New-York-NY-10017%5C%2F1013170001-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-3-Avenue-New-York-NY-10017%5C%2F1013170001-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">685 Third Avenue</a>

Epiq CEO Tom Olofson and 685 Third Avenue

Amid a slow leasing market on Third Avenue, 685 Third Avenue has secured its third large tenant since TIAA-CREF purchased the property in 2010. Crain’s reported that Epiq Systems, a provider of technology services to clients in the legal profession, is near inking a deal for about 100,000 square feet.

The lease will give the company three floors inside the 31-story building, which totals 650,000 square feet. An unnamed source told Crain’s that taking rents at 685 Third are in the $50 a square foot.

Last summer, Salesforce.com inked a 100,000-square-foot lease at the building, which is located between East 43rd and 44th streets. Crain’s added that last year, an accounting firm named Marks Paneth & Shron, signed an 85,500-square-foot lease.

TIAA-CREF bought the building in 2010 for $190 million, then flipped a near-50 percent stake the following year — selling to Australia’s Future Fund Board of Guardians for $100.3 million. [Crain’s]Zachary Kussin

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New York

Legal technology firm signs for 100,000 square feet at 685 Third Avenue

Epiq CEO Tom Olofson and <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/685-3-Avenue-New-York-NY-10017/1013170001-0" target="_blank" data-address="685%203%20Avenue%2C%20New%20York" data-label="685%20Third%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F685-3-Avenue-New-York-NY-10017%2F1013170001-0" data-bbl="1013170001" data-blockValue="01317" data-lotValue="0001" data-zipcode="10017" data-bldgArea="559%2C755" data-bldgDepth="130" data-bldgFront="100" data-landUse="Comm%20%26%20office%20buildings" data-lotArea="31%2C129" data-lotFront="201" data-lotDepth="155" data-retailArea="26%2C190" data-resArea="0" data-officeArea="533%2C565" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="O4" data-primaryZoning="C5-3" data-commercialOverlay="" data-far="10" data-buildable="311%2C290" data-airRights="-248%2C409" data-propertyNeighborhood="Turtle%20Bay" data-latitude="40.7515814020993" data-longitude="-73.9733296518505" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-3-Avenue-New-York-NY-10017%5C%2F1013170001-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-3-Avenue-New-York-NY-10017%5C%2F1013170001-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">685 Third Avenue</a>

Epiq CEO Tom Olofson and 685 Third Avenue

Amid a slow leasing market on Third Avenue, 685 Third Avenue has secured its third large tenant since TIAA-CREF purchased the property in 2010. Crain’s reported that Epiq Systems, a provider of technology services to clients in the legal profession, is near inking a deal for about 100,000 square feet.

The lease will give the company three floors inside the 31-story building, which totals 650,000 square feet. An unnamed source told Crain’s that taking rents at 685 Third are in the $50 a square foot.

Last summer, Salesforce.com inked a 100,000-square-foot lease at the building, which is located between East 43rd and 44th streets. Crain’s added that last year, an accounting firm named Marks Paneth & Shron, signed an 85,500-square-foot lease.

TIAA-CREF bought the building in 2010 for $190 million, then flipped a near-50 percent stake the following year — selling to Australia’s Future Fund Board of Guardians for $100.3 million. [Crain’s]Zachary Kussin

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