SL Green Realty Corp. Announces 70,538 Sq. Ft. Expansion by Millwork Trading Company, Ltd. at 1372 Broadway
April 7th, 2007 at 1:10 PM
New York, NY – March 7, 2007 – SL Green Realty Corp. (NYSE: SLG) today announced that it has completed a 70,538 square foot lease expansion agreement at 1372 Broadway with Millwork Trading Company Ltd., a wholly owned subsidiary of Hong Kong-based Li & Fung, the world’s leading consumer goods sourcing company. The 10-year lease expansion comprising the entire third and fourth floors brings Millwork’s total commitment within the building to 114,246 square feet. The company will occupy the space for offices and showrooms.
Commenting on the new agreement, Steven Durels, Executive Vice President, Leasing for SL Green said, “Fundamentals in the New York City office market remain robust fueled by strong demand from tenant growth. Millwork is a marquee tenant and we’re delighted they have selected 1372 Broadway to anchor their business. This transaction illustrates the strength of our commitment to service the on-going needs of our tenants.”
Located in the heart of Times Square South, on Broadway between 37th and 38th Streets, the 21-story property, containing 534,000 rentable square feet, is convenient to both Grand Central Terminal and Penn Station. In addition to Millwork, major office tenants include Ross Stores, Inc. and Ann Taylor, Inc.
Alexander Chudnoff and Mitchell Konsker of Cushman & Wakefield represented the tenant in this transaction. Frank Doyle of Jones Lang LaSalle was the landlord’s agent.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages a portfolio of Manhattan office properties. The Company is the only publicly held REIT that specializes exclusively in this niche. As of January 31, 2007, the Company owned 42 office properties totaling 25.0 million square feet. The Company’s retail space ownership totals 296,000 square feet at eight properties.
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 212-216-1601.