Press Release Details
Reckson, a Division of SL Green, Renews Pepsico and Citigroup for a Total of 157,000 Square Feet in Westchester and Connecticut
Pepsico Signs 75,000 Square Foot Renewal at 100 Summit Dr. in Valhalla, NY;
Citigroup Renews its 82,000 Square Foot Lease at 750 Washington Blvd. in Stamford, CT
White Plains, NY - July 27, 2010 - Reckson, a division of SL Green Realty Corp., announced today that it has closed two large lease renewal transactions totaling 157,000 square feet at prominent Class A buildings within its suburban portfolio.
Pepsico, which has been based at 100 Summit Lake Drive in Valhalla, NY for more than ten years and is the building's anchor tenant, renewed its 75,000 square foot lease for a new ten year term on the 3rd, 4th and portion of the 1st floor of the 250,000 square foot, four-story property.
Additionally, Citigroup signed a five year early renewal lease for 82,000 square feet on floors 7-9 at 750 Washington Boulevard, an 11-story, 192,000 square foot downtown property within Stamford Towers, adjacent to the Metro North railway station.
"We are delighted to retain such prestigious corporate leaders in Westchester and Fairfield counties," said John Barnes, Senior Vice President and Senior Director. "These two sizeable transactions are a testament not only to the high quality of our buildings, but also underscore the strength of the long-standing relationships Reckson and SL Green have forged with both Pepsico and Citigroup."
The Pepsico renewal follows on the heels of a major 52,366 square foot transaction for ConEdison Solutions' headquarters, which closed last year at 100 Summit Lake Drive. Reckson's Summit Office Park is also home to other leading international corporations including Fuji, headquartered in 165,000 square feet at 200 Summit Lake Drive, and Verizon, which occupies 120,000 square feet at 500 Summit Lake Drive.
Paul Jacobs of CBRE represented Pepsico at 100 Summit Lake Drive and Steve Baker and Neil Goldmacher of Newmark Knight Frank acted on behalf of Citigroup at 750 Washington Boulevard.
About SL Green Realty Corp.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of June 30, 2010, the Company owned interests in 30 New York City office properties totaling approximately 22,012,215 square feet, making it New York's largest office landlord. In addition, at June 30, 2010, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 374,812 square feet, three development properties encompassing approximately 399,800 square feet and two land interests, along with ownership interests in 31 suburban assets totaling 6,804,700 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.
To be added to the Company's distribution list or to obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at 212-216-1601.
CONTACT:
John Barnes
Senior Vice President and Senior Director
Reckson, a Division of SL Green Realty Corp.
914 872-4750
john.barnes@slgreen.com