SL Green and Vornado Announce 270,000-Square-Foot Lease with a Premier Financial Services Tenant at 280 Park Avenue
04 Dezembro 2023 - 9:50AM
SL Green Realty Corp. (NYSE: SLG), and Vornado Realty Trust (NYSE:
VNO) today announced that they have signed a 15-year renewal and
expansion lease with a premier financial services tenant covering
269,905 square feet on six floors at 280 Park Avenue. Spanning the
entire block front of Park Avenue between 48th and 49th Streets,
280 Park Avenue is a best-in-class 1.25 million-square-foot Midtown
Manhattan office building owned in joint venture between SL Green
and Vornado.
“This lease together with the previously announced 100,000
square foot renewal and expansion lease with one of the world’s
largest sovereign wealth funds reaffirms the strength of the Park
Avenue submarket,” said Glen Weiss, Executive Vice
President, Office Leasing - Co-Head of Real Estate at Vornado, and
Steven Durels, SL Green’s Executive Vice President, Director of
Leasing and Real Property, speaking on behalf of the joint
venture. “We are committed to continuing to deliver a
premium experience that not only meets but exceeds our tenants’
expectations.”
280 Park Avenue has benefitted from a $150 million full property
redevelopment and modernization previously completed by the joint
venture, including the creation of an expansive world-class lobby
with 25-foot-high ceilings extending the full block-front of Park
Avenue. Other highlights include a modernized amenities package, an
extensive program to enhance environmental sustainability, a
complete redesign of the building’s adjacent plaza and
building-wide infrastructure upgrades.
The tenant was represented by Mary Ann Tighe, Ken Meyerson,
Brendan Herlihy, Eric Thomas, and Marlee Teplitzky of CBRE together
with Evan Margolin of JLL, while the joint venture was represented
by Glen Weiss and Steven Durels along with the CBRE team of Peter
Turchin, Greg Rothkin and Jason Pollen.
About SL Green Realty Corp.SL Green Realty
Corp., Manhattan'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, 2023, SL Green held interests in 59
buildings totaling 32.5 million square feet. This included
ownership interests in 28.8 million square feet of Manhattan
buildings and 2.8 million square feet securing debt and preferred
equity investments.
About Vornado Realty Trust
Vornado Realty Trust is a fully integrated real estate
investment trust (“REIT”) with a portfolio of premier New York City
office and retail assets and the developer of the new PENN
DISTRICT. While concentrated in New York, Vornado also owns the
premier assets in both Chicago and San Francisco. Vornado is a real
estate industry leader in sustainability, with over 27 million
square feet of LEED-certified buildings and over 23 million square
feet at LEED Gold or Platinum.
Forward Looking StatementThis 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 actual results or developments
may differ materially, and we caution you not to place undue
reliance on such statements. Forward-looking statements are
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“project,” “continue,” or the negative of these words, or other
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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 include the risks and uncertainties
described in our filings with the Securities and Exchange
Commission. Except to the extent required by law, we undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of future events, new information
or otherwise.
PRESS CONTACTS
For SL Green:slgreen@berlinrosen.com
For Vornado:Tom Sanelli (212) 894-7433 tsanelli@vno.com
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