JLL has completed a sublease for Meredith Corp. at 805 Third Avenue with Gen II Fund Services LLC.
The private equity fund administrator subleased 47,600 s/f of office space from the media conglomerate at the Class A, 597,533 s/f office building.
The sublessor, Meredith, was represented by Frank Doyle, vice chairman; Randy Abend, senior vice president; and Betsy Buckley, vice president, all with JLL. Gen II was represented by William Iacovelli, executive vice president, with CBRE Inc.
“Gen II Fund Services was attracted by the plug-and-play nature of Meredith’s already built-out, high-end space, as well as the office tower’s expansive views,” said Doyle.
Gen II Fund Services signed an eight-year sublease for 47,600 square feet of office space and will occupy the entire 24th and 25th floors at 805 Third Avenue.
JLL was tapped by Meredith in February 2018 to sublease a190,000 square feet of its space on the 22nd through the 29th floors at 805 Third Avenue. Meredith is consolidating its New Yorkstaff to 225 Liberty Street following its acquisition of Time Inc.
In the past four months, JLL has subleased about 145,600 s/f of Meredith’s space, including 98,000 s/f to Kroll Bond Rating Agency, which will occupy the 26th through the 29th floors at 805 Third Avenue. A total of just 46,294 s/f on the 22nd and 23rd floors remain available for sublease.
The 31-story 805 Third Avenue is owned by Cohen Brothers Realty Corp.,