British Tech Firm Signs Lease in Midtown East
Cloud-based business software provider NewVoice Media will transition in the first quarter of 2015 into a permanent New York City office that’s three times the Hampshire, England-based company’s temporary space, Commercial Observer has learned.
The company signed a five-year, 6,487-square-foot lease to move to the 16th floor of TIAA-CREF’s 685 Third Avenue between East 43rd and East 44th Streets from an approximately 2,000-square-foot interim space, officials with Avison Young said.
“The quality of the build out of the space, central location, flexible deal structure and immediate proximity to one of NewVoice Media’s largest partners, Salesforce, were all factors in their decision to relocate to the building,” Avison Young officials said in a statement.
Greg Kraut and David Cohen of Avison Young negotiated on behalf of the tenant in the transaction, while a team from JLL represented TIAA-CREF.
The digital filing management company lists 90 Park Avenue roughly two blocks away as its current New York City address on its website, and the firm that just secured $50 million in funding now services 300 businesses in 116 countries, Avison officials said.
Partner cloud-computing company Salesforce operates from nearly 74,349 square feet at NewVoice Media’s future home. Another tenant at 685 Third Avenue, professional services firm Navigant, signed a 72,060-square-foot lease this summer to move out of subleased space at 90 Park Avenue, as CO previously reported.
Avison officials declined to state asking rents and representatives for JLL didn’t immediately respond to a request for comment. Overall rents in the Grand Central area run for an average of $63.13 per square foot, according to the latest quarterly report from Cushman & Wakefield.