Health First Signs 172,000 sq. ft. Lease at SL Green's 100 Church Street
July 29th, 2010 at 3:40 PM
Lease Covers Space That Had Been Vacant for 5+ Years
New York, NY - July 27, 2010 - SL Green Realty Corp. (NYSE: SLG) announced today that Healthfirst has signed a 172,577 square foot, 20-year headquarters lease covering four floors at 100 Church Street, the 21-story, 1.05-million-square-foot office building located in downtown Manhattan, which was acquired by SL Green in foreclosure this past January.
Established in 1993, Healthfirst is a not-for-profit managed care organization that provides healthcare to its constituent communities.
"Following the acquisition of 100 Church Street, we commenced a comprehensive re-positioning program that includes a re-design of the prior ownership's capital plan together with an extensive marketing effort to re-introduce the building to the marketplace," said Steven Durels, Director of Leasing and Real Property for SL Green. "Building improvements include new lobby, entrance, windows and mechanical upgrades."
Mr. Durels continued, "Our goal was to revitalize a building that had been allowed to languish for over five years. The building is fundamentally very strong with large and efficient center core floors, exceptional convenience to public transportation and a strategic location bridging Tribeca and the Financial District. Healthfirst's long-term commitment for its new headquarters is a great validation of our re-positioning program."
Derek Trulson, Bill Peters and Daoud Awad from Jones Lang LaSalle represented Healthfirst in the transaction. Newmark Knight Frank's Brian Waterman, James Kuhn, John Fanuzzi, Hal Stein and Lance Korman 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 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: Steven M. Durels, Brian Waterman, Lance Korman, 100 Church Street, James Kuhn, Hal Stein, Jonathan Fanuzzi, Derek Trulson, Bill Peters, Daoud Awad