Insurer EPIC Moves Up to Full Tenancy at 1140 Ave. of the Americas
New York City REIT, Inc. (NYC) has executed a new lease with an existing subtenant to retain and expand its current office space at 1140 Ave. of the Americas. The lease with Edgewood Partners Insurance Center (EPIC) expands its presence and features 10.5 years of lease term. NYC didn’t disclose the size of the lease, other than to say it increases EPIC’s footprint by “over 50%.”
“We are pleased to complete this lease with EPIC, a high-quality brokerage and consulting firm that specializes in retail risk management and employee benefits insurance,” said Michael Weil, CEO of NYC. “The lease requires payment of approximately $1.3 million in annualized, straight-line rent over a 10.5-year lease term.
“Our team, along with our broker Avison Young, did a great job working with EPIC to complete this lease and we are glad to have EPIC as our direct tenant,” Weil continued.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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