Newmark Grubb Knight Frank Renews and Expands; TD Bank Signs New
Long-term Leases
NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (NYSE:SLG), New York City's largest commercial
property owner, today announced two major 15-year lease transactions
totaling approximately 191,000 square feet at 125 Park Avenue, the
26-story, 572,705-square-foot building located directly across from
Grand Central Terminal.
Newmark Grubb Knight Frank, a long-term tenant at 125 Park, has renewed
101,838 square feet of existing space and expanded by 31,377 square
feet. Continuing as the building's largest tenant, Newmark now occupies
a total of 133,215 square feet.
In addition, Toronto, Canada based TD Bank signed a new 15-year lease
covering 51,707 square feet of office space together with a separate
lease covering 6,234 square feet of ground floor retail space for a new
bank branch. Recently TD Bank signed a long-term lease for approximately
200,000 square feet to become the office and retail anchor tenant at One
Vanderbilt Avenue where SL Green is proposing to construct a new,
state-of-the-art, 1.6 million square foot office tower.
"Leasing momentum has been exceedingly strong this year," noted Steven
Durels, executive vice president, director of leasing and real property
for SL Green, who added, "125 Park is particularly active because of its
unrivaled convenience with immediate access to multiple transportation
options."
Newmark's Brian Waterman represented his firm in the Newmark transaction
and CBRE's Robert Alexander, David Mauer-Hollander and Douglas Lehman
represented TD Bank.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is a
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, 2014, SL Green held interests
in 96 Manhattan buildings totaling 44.1 million square feet. This
included ownership interests in 28.0 million square feet of commercial
buildings and debt and preferred equity investments secured by 16.1
million square feet of buildings. In addition to its Manhattan
investments, SL Green held ownership interests in 35 suburban buildings
totaling 5.9 million square feet in Brooklyn, Long Island, Westchester
County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com/
SLG-LEAS
SL Green Realty Corp.
Steven Durels, Exec VP, 212-216-1617
Director
of Leasing and Real Property
or
Rubenstein Associates
Melanie
Keenan, 212-843-8092
mkeenan@rubenstein.com
Source: SL Green Realty Corp.
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