SL Green Announces New Lease With California Department of General Services at 485 Lexington Avenue
May 20th, 2008 at 9:08 AM
Board of Equalization to Occupy 12,499 Square FeetNew York, NY – May 20, 2008 SL Green Realty Corp. (NYSE: SLGP) today announced that it has completed a new ten-year lease agreement with The Board of Equalization, State of California/California Department of General Services to occupy 12,499 square feet on part of the fourth floor of 485 Lexington Avenue.
The Department will join Advance Magazine, St. Paul’s Travelers, Omnicom and Citibank, among other prestigious tenants, at the 31-story, 921,370-square-foot building located on the corner of at East 47th Street. This lease raises office occupancy to 100% within the building.
“We’re delighted to welcome the California Department of General Service,” said Steven M. Durels, Executive Vice President and Director of Leasing and Real Property. “This transaction required extensive coordination and cooperation between both sides since the landlord is constructing the premises to the unique standards mandated by the state of California.”
Stephen J. Riker and Beth Greenspan of Colliers ABR, Inc. represented The California Department of General Services in the transaction, while Paul Glickman, Tara Stacom, Mitti Liebersohn, Alex Chudnoff, Steven Bauer and Diana Biasotti of Cushman & Wakefield, Inc. acted on behalf of SL Green.
About SL Green Realty Corp.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of March 31, 2008, the Company owned 31 New York City office properties totaling approximately 24,389,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, nine retail properties encompassing approximately 400,212 square feet, one development property encompassing approximately 85,000 square feet and two land interests, along with ownership interests in 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.
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.