Wells Fargo Trade Capital Expands At SL Green’s 100 Park Avenue
February 3rd, 2011 at 9:37 AM
Fourth Expansion Increases Wells' Occupancy to 102,805 Square Feet
New York, NY - February 2, 2011 - SL Green Realty Corp. (NYSE: SLG) announced today that Wells Fargo Trade Capital, a subsidiary of Wells Fargo Bank, which focuses on asset-based lending and factoring businesses, has expanded for the fourth time in three years at 100 Park Avenue. The company signed for an additional 34,044 square feet covering the entire 14th floor, increasing its total occupancy within the building to 102,805 square feet. 100 Park Avenue is a 36-story, 825,851-square-foot property located one block south of Grand Central Terminal.
"This transaction included the simultaneous take-back of the floor from another tenant which had seven years of remaining lease term," said Steven Durels, SL Green Executive Vice President and Director of Leasing and Real Property, who added that "we are delighted to have been able to accommodate Wells' continued growth. Leasing velocity at 100 Park accelerated significantly following the recent completion of our $72 million redevelopment and subsequent recognition by BOMA as ‘Best Renovated Building', followed by LEED Silver certification."
James Travers and Jim Fish of Travers Realty Corp. represented Wells Fargo Trade Capital in the transaction, while Paul Glickman, Tara Stacom, Mitti Liebersohn, Alex Chudnoff, Diana Biasotti and Jonathan Tootell from Cushman & Wakefield 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 December 31, 2010, the Company owned interests in 30 New York City office properties totaling approximately 22,324,460 square feet, making it New York's largest office landlord. In addition, at December 31, 2010, SL Green held investment interests in, among other things, 11 retail properties encompassing approximately 405,362 square feet, four development properties encompassing approximately 465,441 square feet and three 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: 100 Park Avenue, Steven M. Durels, Alexander Chudnoff, Tara Stacom, Diana Biasotti, Jonathan Tootell, Mitti Liebersohn, James Travers, James Fish