Anchor Tenant Now Occupies 504,466 Square Feet For 20-Year Term
NEW YORK--(BUSINESS WIRE)-- SL Green Realty Corp. (NYSE: SLG) announced today that The City of New York has signed a 131,946 square foot expansion lease in downtown Manhattan at 100 Church Street, increasing its occupancy at the 21-story, 1.05 million square foot building to 504,466 square feet.
“The expansion follows the City’s 372,520 square foot lease renewal on behalf of the City’s Law Department, which was signed four months ago,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green, who added that “the 20-year expansion lease was structured to be co-terminus with the renewal space and brings the property up to 97% leased.”
“We are delighted the City has made such a major commitment to 100 Church Street following completion of our comprehensive redevelopment, which included a new lobby, entrance, roof, windows, infrastructure upgrades and retail repositioning. Building tenants now include industry leading companies such as HealthFirst, Niche Media, Interactive Data Corporation, Centerline Capital Group, as well as the City and State of New York.”
CBRE’s Michael Geoghegan and John Morrill represented the City of New York, while Newmark Knight Frank’s Brian Waterman, James Kuhn and Lance Korman represented the landlord.
Caroline Silk, Esq. represented the City of New York in-house, while Peter Strauss, Esq. and Christopher Smith, Esq. of Shearman & Sterling acted on behalf of SL Green.
About SL Green
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 September 30, 2012, SL Green owned interests in 77 Manhattan properties totaling 39.3 million square feet. This included ownership interests in 27.5 million square feet of commercial properties and debt and preferred equity investments secured by 11.8 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.
Forward Looking Statements
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the Manhattan, Brooklyn, Queens, Westchester County, Connecticut, Long Island and New Jersey office markets, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate.
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SL Green Realty Corp.
Steven Durels, Exec VP,
Director of Leasing and Real Property
Source: SL Green Realty Corp.