Aetna Life Insurance Company Commits to 40,139 Square Feet at SL Green's 100 Park
June 19th, 2009 at 12:00 AM
Strong Tenant Demand Continues to Drive Leasing at Grand Central's ‘Modern Classic', BOMA's Best Renovated Building for 2008/09
New York, NY - June 19, 2009 - SL Green Realty Corp. (NYSE: SLG) announced today that Aetna Life Insurance Company has signed a new 40,139-square-foot, ten-year lease covering the entire 12th floor at 100 Park Avenue, Grand Central's recently redeveloped ‘Modern Classic.' The building has received Silver LEED certification and is the recipient of BOMA's award for ‘Best Renovated Building of the Year' for 2008/09.
Aetna is one of the nation's leading diversified health care benefits companies, offering products ranging from medical, pharmacy, dental, group life, long-term health care and disability plans.
"Our $72 million capital improvement program at the building included a comprehensive makeover of the façade, all common areas and infrastructure together with multiple sustainable elements, namely the installation of green roofs, recycling and energy reduction initiatives, which provide a significant reduction in the building's carbon footprint," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green. "The execution of our redevelopment plan continues to attract some of the finest names in corporate America."
"We are delighted to welcome Aetna to the building. They are signing on with us after a flurry of leasing activity in the past 12 months ranging from BDO Seidman's 121,441-square foot lease last August to First Wall Street's 15,945-square-foot deal and Wells Fargo Trade Capital's 57,009-square foot lease."
Bill Korchak of Jones Lang LaSalle represented Aetna in the transaction, while Cushman & Wakefield's Tara Stacom, Mitti Liebersohn, Alexander Chudnoff, Diana Biasotti, Jonathan Tootell, and Andrew Ackerman acted on behalf of the landlord.
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, 2009, the Company owned 29 New York City office properties totaling approximately 23,211,200 square feet, making it New York's largest office landlord. In addition, at March 31, 2009, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, three development properties encompassing approximately 399,800 square feet and two land interests, along with ownership interests in 33 suburban assets totaling 6,986,500 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 http://www.slgreen.com/ or contact Investor Relations at 212-216-1601.
Tags: 100 Park Avenue, Steven M. Durels, Alexander Chudnoff, Diana Biasotti, Jonathan Tootell, Mitti Liebersohn, Andrew Ackerman