NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp (NYSE:SLG), New York City's largest commercial
property owner, along with partner, Ivanhoé Cambridge, today announced
that leading international publisher, Penguin Random House, has signed a
15-year 603,650-square-foot lease extension through June 2033 covering
floors 2-19 and 21-23 at 1745 Broadway. This is an early renewal of
Penguin Random House's lease, which was scheduled to expire in 2018.
Steven Durels, Executive Vice President and Director of Real Estate for
SL Green, commented that, "We and our partners at Ivanhoe Cambridge are
very pleased to have a high quality tenant like Penguin Random House
continue to anchor this premier asset." He added that, "Leasing velocity
in Manhattan remains robust with strong demand from legal, TAMI,
financial service and healthcare tenants."
Richard Bernstein of Cushman & Wakefield represented the tenant in this
transaction while SL Green represented the landlord in-house.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
commercial 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 June 30, 2016, the
Company held interests in 119 Manhattan buildings totaling 44.7 million
square feet. This included ownership interests in 28.0 million square
feet of commercial buildings and debt and preferred equity investments
secured by 16.7 million square feet of buildings. In addition, the
Company held ownership interests in 31 suburban buildings totaling 4.9
million square feet in Brooklyn, 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) 594-2700.
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader, invests in
high-quality properties and companies in select cities around the world.
It does so prudently with a long-term view to optimize risk-adjusted
returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a
vertically integrated business across Canada. Internationally, the
Company invests alongside key partners that are leaders in their
respective markets.
Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests
in close to 500 properties, consisting primarily in office, retail,
residential and logistics real estate. Ivanhoé Cambridge held more than
Cdn$55 billion in assets as at June 30, 2016. The Company is a real
estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com),
one of Canada's leading institutional fund managers. For further
information: ivanhoecambridge.com.
Forward-looking Statement
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, are forward-looking
statements. Forward-looking statements are not guarantees of future
performance and we caution you not to place undue reliance on such
statements. Forward-looking statements are generally identifiable by the
use of the words "may," "will," "should," "expect," "anticipate,"
"estimate," "believe," "intend," "project," "continue," or the negative
of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject
to a number of risks and uncertainties, many of which are beyond our
control, that may cause our actual results, performance or achievements
to be materially different from future results, performance or
achievements expressed or implied by forward-looking statements made by
us. Factors and risks to our business that could cause actual results to
differ from those contained in the forward-looking statements are
described in our filings with the Securities and Exchange Commission. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of future events, new information or
otherwise.
SLG-LEAS
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View source version on businesswire.com: http://www.businesswire.com/news/home/20160907005532/en/
Steven Durels, Exec VP,
Director of Leasing and Real Property
SL
Green Realty Corp.
(212) 216-1617
Source: SL Green Realty Corp
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