SL Green Signs Lease with Wells Fargo Trade Capital at 100 Park Avenue
January 27th, 2009 at 11:41 AM
Bank Commits to 44,716 Square Feet on Entire Third Floor
New York, NY - January 27, 2008 - SL Green Realty Corp. (NYSE: SLG) today announced that Wells Fargo Trade Capital has signed a new ten-year lease totaling 44,716 square feet covering the entire third floor of 100 Park Avenue.
Wells Fargo Trade Capital is a subsidiary of Wells Fargo Bank and specializes in asset-based lending and factoring businesses.
We're delighted that Wells Fargo Trade Capital has selected 100 Park for its New York offices," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green. "This transaction is further validation of the successful redevelopment of the building."
SL Green recently completed its largest ever redevelopment at the building. The $72 million modernization included creation of a two-story atrium lobby, a complete re-cladding of the façade, and extensive infrastructure improvements. The project is on track to earn a silver LEED designation and won the BOMA 2007/08 award for "Best Renovated Building."
Wells Fargo will be joining such prestigious tenants as BDO Seidman LLP, J&W Seligman & Company, Inc., and Kreindler & Kreindler LLP.
James Travers and James Fish of Travers Realty, together with Keith Caggiano of CB Richard Ellis, represented Wells Fargo Trade Capital, while Paul Glickman, Tara Stacom, Alex Chudoff, Mitti Liebersohn, Diana Biasotti, Jonathan Tootell and Andrew Ackerman of Cushman & Wakefield acted on behalf of SL Green.
About Wells Fargo Trade Capital
Wells Fargo Trade Capital (formerly Wells Fargo Century) has been in the specialty finance business for more than a half-century. Founded as Century Business Credit, this once family-owned factoring company that extended credit to the garment industry has been a subsidiary of banking giant Wells Fargo since 1999 and is one of the largest factoring outfits in the US. It primarily serves manufacturers, wholesalers, and importers. In addition to factoring services such as accounts receivable financing, credit reporting, and collections, clients can turn to Wells Fargo Trade Capital for working capital, trade financing, and letters of credit.
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 June 30, 2008, the Company owned 30 New York City office properties totaling approximately 23,719,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, two development properties encompassing approximately 363,000 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.
Tags: 100 Park Avenue, Steven M. Durels, Alexander Chudnoff, Tara Stacom, Diana Biasotti, Jonathan Tootell, Paul Glickman, Mitti Liebersohn, James Travers, James Fish, Keith Caggiano, Andrew Ackerman