CBS Broadcasting Signs Early Renewal for 282,000 sq. ft. at SL Green's 555 W. 57th Street

July 29th, 2010 at 3:45 PM

New York, NY - July 27, 2010 - SL Green Realty Corp. (NYSE:  SLG) today announced that CBS Broadcasting, Inc. has signed a 10 year lease renewal covering 281,896 square feet at 555 West 57th Street, the 20-story, one million+ square-foot property located on Manhattan's West Side.

"This large lease renewal, together with Healthfirst's new lease for 172,000 square feet at 100 Church Street and the 157,000 square feet of renewal leases just signed by corporate giants Pepsico and Citigroup in Westchester and Fairfield counties respectively, represents over 610,000 square feet of lease commitments transacted in the past two business days," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green.  "Both CBS and Citigroup were early renewals, confirming that the trend continues for large tenants to lock in favorable long-term occupancy costs while at the same time providing landlords with long-term stability with rent increases over and above the in-place rent."

Other tenants within the building include City University of New York, St. Lukes Roosevelt, Greater New York Hospital Association and BMW of Manhattan. 

CBRE's Michael Laginestra, Scott Gottlieb and Andrew Sussman represented CBS Broadcasting, while Mr. Durels acted in-house 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 June 30, 2010, the Company owned interests in 30 New York City office properties totaling approximately 22,012,215 square feet, making it New York's largest office landlord. In addition, at June 30, 2010, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 374,812 square feet, three development properties encompassing approximately 399,800 square feet and two land interests, along with ownership interests in 31 suburban assets totaling 6,804,700 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: 555 West 57th Street, Steven M. Durels, Michael Langinestra, Scott Gottlieb, Andrew Sussman