SL Green Strong Leasing Momentum Continues with Additional 441,651 Square Feet Signed Midway Through
SL Green Strong Leasing Momentum Continues with Additional 441,651 Square Feet Signed Midway Through Second Quarter
Over 1 Million Square Feet Signed Year-to-Date
Inks 178,024 Square Foot Renewal with Travelers Indemnity Company
NEW YORK--(BUSINESS WIRE)-- After reporting robust office leasing in the first quarter of 2013, SL Green Realty Corp. (NYS: SLG) announced today that leasing velocity has continued with strong momentum in the second quarter.
Highlighted by the recent 178,024 square foot renewal with The Travelers Indemnity Company at 485 Lexington Avenue, the Company has signed 441,651 square feet of leases since April 1, 2013.
"Improved leasing velocity that started in the fourth quarter of 2012 has continued forward through the second quarter of 2013," noted Steven Durels, Director of Leasing and Real Property for SL Green. He added, "We're seeing strong demand across all submarkets and all price points with a significant number of tenant expansions."
Other leasing highlights include:
- Blue Mountain Capital's 49,541 square foot renewal and expansion at 280 Park Avenue;
- Promontory Financial Group's 49,541 square foot renewal and expansion at 280 Park Avenue;
- Beth Israel Medical Center's 35,113 square foot renewal at 555 West 57th Street; and
- CVS's new 21,159 square foot retail lease at 3 Columbus Circle.
Robert Ageloff of Jones Lang LaSalle acted on behalf of Travelers in its renewal at 485 Lexington Avenue. The leasing team of Paul Glickman, Mitti Liebersohn, Diana Biasotti and David Kleiner of Jones Lang LaSalle represented SL Green.
Brad Siderow of the Siderow Organization and Al Camhi of RFR represented Blue Mountain. The CBRE team of Mary Ann Tighe, Peter Turchin, Eric Deutsch, Sam Seiler and Greg Rothkin represented the landlord on the both transactions at 280 Park Avenue.
Josh Kuriloff and Jodi Roberts of Cushman & Wakefield, Inc. represented Beth Israel Medical Center at 555 West 57th Street while SL Green was represented in-house.
Jason Pruger of Newmark Grubb Knight Frank acted on behalf of CVS and Jeff Winick, Kelly Gedinsky, Michael Gleicher and Lori Shabtai of The Winick Realty Group represented the landlord at 3 Columbus Circle.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2013, SL Green owned interests in 89 Manhattan properties totaling 41.6 million square feet. This included ownership interests in 25 million square feet of commercial properties and debt and preferred equity investments secured by 13.8 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 31 suburban assets totaling 5.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with four development properties in the suburbs encompassing approximately 0.5 million square feet. The Company also has ownership interests in 31 properties totaling 4.5 million square feet in southern California.
SL Green Realty Corp.
Steven Durels, Exec VP,
Director of Leasing and Real Property
Melanie Keenan, 212-843-8092
KEYWORDS: United States North America New York
The article SL Green Strong Leasing Momentum Continues with Additional 441,651 Square Feet Signed Midway Through Second Quarter originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.