Press Release Details
SL Green Leases Approximately 156,000 Square Feet to The Segal Company at 333 West 34th Street
New York, NY - February 12, 2008 - SL Green Realty Corp. (NYSE: SLG) today announced that it has completed a new 15-year lease agreement with The Segal Company to occupy approximately 156,000 square feet on floors 2 through 5 at 333 W. 34th Street. The Segal Company was founded in 1939 and is a leading employee benefits, compensation and HR consulting firm.
333 West 34th Street, which consists of approximately 350,000 square feet, was acquired by SL Green in April, 2007 with a plan to reposition the property as a multi-tenant building after completion of a capital program, which includes a new expanded lobby, entrance, storefront, new bathrooms and security system.
"We are delighted to welcome The Segal Company to West 34th Street," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green, who added that "Segal chose the building because of its convenient location next to a major transportation hub, the pending building redevelopment plan, and quality of ownership."
The Segal Company, presently located at One Park Avenue in a building previously owned by SL Green, is expected to move into the majority of its new premises during the first quarter of 2010.
Located on 34th Street between Eighth and Ninth Avenues, one block from Penn Station, 333 West 34th Street is currently 100 percent leased by Citigroup, which is scheduled to vacate in 2009. Built in 1954, the ten-story building offers floor plates ranging in size from 38,000 square feet to 27,000 square feet and features uncommonly robust infrastructure.
Michael Laginestra, Michael Geoghegan, Douglas Lehman, and Casey Hirschhorn of CBRE represented the tenant in the transaction, while Paul Glickman, Tara Stacom, Alex Chudnoff, Mitti Liebersohn and Diana Biasotti of Cushman & Wakefield, Inc. represented SL Green.
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 December 31, 2007, the Company owned 32 New York City office properties totaling approximately 24,728,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, retail properties (eight) encompassing approximately 353,939 square feet, development property (one) encompassing approximately 85,000 square feet and land interests (two), along with ownership of 36 suburban assets totaling 7,867,500 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
Steven Durels, Exec VP,
Director of Leasing
(212) 216-1617