JLL Completes 10-Year Lease for Trusted Media Brands at 485 Lexington Avenue in Midtown Manhattan
Media and publishing company takes 14,795 square feet at SL Green Realty Corp.’s 743,789-square-foot office tower
NEW YORK, December 14, 2020 — JLL has completed a 14,795-square-foot lease at 485 Lexington Avenue on behalf of Trusted Media Brands, a media and direct marketing company. The tenant, a client of JLL vice chairmen Matthew Astrachan and Mitch Konsker for 36 years, has signed a 10-year lease on the ninth floor with property owner SL Green Realty Corp. Trusted Media Brands will relocate to 485 Lexington Avenue from 750 Third Avenue.
Trusted Media Brands is home to iconic brands, including Reader’s Digest, Taste of Home, and Family Handyman. The company reaches a uniquely engaged audience across multiple digital platforms, social media, magazines, books, and events.
“We were excited about the prospect of staying within the SL Green portfolio as we have had a great experience with them as a subtenant at 750 Third Avenue,” said Dean Durbin, Trusted Media Brands Chief Financial Officer & Chief Administrative Officer. “The pre-built unit we are moving into at 485 Lexington checked a lot of boxes for Trusted Media Brands. In addition, SL Green has changed some maintenance procedures and protocols to address concerns for returning back to the office.”
“This lease is an example of our ongoing commitment to find creative solutions to meet the various needs of our tenants,” said Steven Durels, Executive Vice President and Director of Leasing at SL Green. “This creatively designed space will help to support Trusted Media Brands and its personnel now and in the future.”
Trusted Media Brands was represented by Matthew Astrachan and Mitch Konsker, vice chairmen, and Kristen Morgan, associate vice president, with JLL. The landlord was represented by Paul Glickman, vice chairman, Jonathan Fanuzzi, managing director, Diana Biasotti, senior vice president, and Kip Orban, vice president, also with JLL.
“Trusted Media Brands has been a client for nearly four decades, and it is rewarding to help them secure extraordinary space in one of the Midtown’s leading office towers,” said Astrachan. “This property is ideally located only steps from Grand Central Terminal and in close proximity to other major transit hubs and all Midtown destinations.”
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Trusted Media Brands
Trusted Media Brands, comprises a network of engaged, active readers who genuinely connect with its blend of uplifting and expertly-curated family, food, health, home improvement, finance and humor content digitally, via magazines and books, social media, events and experiences. Founded in 1922 by DeWitt Wallace as Reader's Digest Association, one of the first user-generated content publishers, the company now contains a variety of well-known brands including Reader’s Digest, Taste of Home, and Family Handyman.