Leading International Law Firm Leases 106,000 Square Feet
NEW YORK--(BUSINESS WIRE)--Apr. 25, 2018--
SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial
landlord, today announced that McDermott Will & Emery LLP, a premier
international law firm, has signed a 20-year lease for 105,539 square
feet at One Vanderbilt Avenue, the 1,401-foot icon set to redefine New
York’s skyline. McDermott Will & Emery will relocate its New York
operations to One Vanderbilt, taking floors 44 through 46 and floor 67.
One Vanderbilt is currently 31 percent leased, two years ahead of its
planned 2020 opening and on track to meet SL Green’s goal of 37 percent
leased by the end of 2018.
“Global business leaders like McDermott Will & Emery are choosing One
Vanderbilt because it offers the most advanced and amenitized new office
construction right at the doorstep to Grand Central Terminal in the
heart of East Midtown,” saidAndrew Mathias, President of SL Green.
“The momentum we’re seeing at One Vanderbilt, two years ahead of
opening, reaffirms East Midtown’s position as the premier business
destination in New York. We’re delighted to welcome McDermott Will &
Emery into the SL Green portfolio and help advance their strategic goals
at One Vanderbilt.”
“As a firm, we are inspired by innovation and are excited to put our
brand on a building that reflects that,” said John Yoshimura, Chief
Operating Officer of McDermott Will & Emery. “We have
significantly grown our footprint and diversified our client offerings
in New York, and we’re confident that the move to One Vanderbilt will
help us build an even more formidable presence in the city.”
Earlier this year, the American Institute of Architects (AIA) recognized
One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF)
Associates, with the prestigious AIA NY Merit Award in Urban Design. The
building has attracted industry leading tenants in finance and law, as
well as renowned chef Daniel Boulud, who will operate an
11,000-square-foot restaurant and café.
Encompassing an entire city block, the building is bounded by Madison
and Vanderbilt Avenues to the west and east, and East 43rd and East 42nd
Streets to the north and south. Expected to achieve both LEED Gold under
version 4.0 and WELL certification, the trophy tower will feature
floor-to-ceiling slab heights ranging from 14'6" to 24', column-free
floor plates, stunning 360-degree views through floor-to-ceiling windows
and best-in-class infrastructure. Anchoring the modernization of East
Midtown, One Vanderbilt will provide tenants with a combination of
amenities unrivaled in New York City, including a 30,000-square-foot
tenant-only amenity floor with outdoor terrace. Immediately adjacent to
Grand Central Terminal, the building will create direct connections to
the surrounding transit network and SL Green will invest $220 million in
infrastructure upgrades to the system.
Moshe Sukenik and Noel Flagg of Newmark Knight Frank represented
McDermott Will & Emery and Robert Alexander, Sarah Pontius, Ryan
Alexander and Emily Jones of CBRE represented the landlord in the
transaction.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and 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 March 31, 2018, SL Green
held interests in 118 Manhattan buildings totaling 49.9 million square
feet. This included ownership interests in 28.7 million square feet of
Manhattan buildings and debt and preferred equity investments secured by
21.2 million square feet of buildings. In addition, SL Green held
ownership interests in 25 suburban buildings totaling 3.7 million square
feet in Brooklyn, Long Island, Westchester County, and Connecticut.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a
diversified business practice. Numbering more than 1,000 lawyers, we
have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf,
Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York,
Orange County, Paris, Seoul, Silicon Valley and Washington, DC. Further
extending our reach into Asia, we have a strategic alliance with MWE
China Law Offices in Shanghai.
SLG-LEAS
View source version on businesswire.com: https://www.businesswire.com/news/home/20180425005748/en/
Source: SL Green Realty Corp.
SL Green Realty Corp.
Matt DiLiberto, 212-594-2700
Chief
Financial Officer
or
BerlinRosen
Matt Lawyue, 646-452-5637
slgreen@berlinrosen.com
