SL Green Realty Corp Signs 240,000 Square Feet of Leases to Start 2020

NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp., Manhattan’s largest office landlord, today announced the firm has signed 239,771 square feet of office leases during the first two months of 2020 at a mark-to-market of 12.2% over the previous fully escalated rents on the same office spaces.

Significant leases include:

• A renewal and expansion with Hudson Yards Construction LLC for 75,704-square-foot lease at 410 Tenth Avenue, for 25.0 years. The lease renews the firm’s space on the entire eighth and partial seventh floors in addition to expanding onto the balance of the entire seventh floor.
• A new lease with Memorial Hospital for Cancer and Allied Diseases, a nonprofit offering cancer treatment and biomedical research education programs to physicians and scientists, for the entire second floor at 485 Lexington Avenue covering 54,199 square ,feet for 10.0 years.
• A new lease with KCP Holdco, Inc. (Kenneth Cole), an internationally-renowned fashion brand, for 37,169-square-feet at 707 Eleventh Avenue, for 10.0 years.

“Building off an incredibly active 2019, we’re pleased to announce an impressive start to 2020,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green. “Leasing velocity remains strong across all market segments and price points with continued tenant demand in the TAMI, legal and financial services sectors.”

About SL Green

SL Green Realty Corp., an S&P 500 company and 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 December 31, 2019, SL Green held interests in 97 buildings totaling 44.0 million square feet. This included ownership interests in 26.5 million square feet of Manhattan buildings and 16.4 million square feet securing debt and preferred equity investments.

SLG-LEAS

Source: SL Green Realty Corp.