SL Green Announces 20,426 Sq. Ft. Lease With Sextant Search Partners at 521 Fifth Avenue
October 24th, 2007 at 3:47 PM
Leading Executive Search Firm Takes Entire 9th Floor
New York, NY – October 24, 2006 – SL Green Realty Corp. (NYSE: SLG) today announced that it completed a new ten–year lease for the New York headquarters of Sextant Search Partners, Inc. covering 20,426 square feet at 521 Fifth Avenue. Sextant Search Partners is an executive search firm focused exclusively on recruiting senior professionals.
SL Green recently acquired 521 Fifth Avenue and has begun a comprehensive repositioning effort and capital improvement program, which includes new lobby, elevator cabs, corridors and bathrooms, façade renovation and infrastructure upgrade. This program will position the property as an upscale boutique building with appeal to image conscious tenants desiring Grand Central convenience.
Located in close proximity to both Grand Central Terminal and Penn Station on the northeast corner of Fifth Avenue and East 43rd Street, the 39–story 521 Fifth Avenue contains 459,566 square feet of office space.
Commenting on the agreement, Steven Durels, Executive Vice President and Director of Leasing for SL Green, said, “We’re very pleased to welcome our newest tenant, Sextant Search Partners, to 521 Fifth Avenue. In particular, we’re delighted that our redevelopment plan has been so well endorsed as demonstrated by the strong leasing demand for the building.”
Derrick Ades, Timothy Dempsey and Sinclair Li of CB Richard Ellis, Inc. represented the tenant in this transaction.
Company Profile
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. As of December 31, 2005, the Company owned 28 office properties totaling 18.2 million square feet. SL Green’s retail space ownership totals 168,300 square feet at five properties. The Company is the only publicly held REIT that specializes exclusively in this niche.
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.
Tags: 521 Fifth Avenue, Steven M. Durels