New York, NY – December 6, 2010 – SL Green Realty Corp. (NYSE: SLG) announced today that Los Angeles-based AECOM Technology Corporation, a Fortune 500 company and one of the world’s largest providers of professional technical and management support, has signed a new 12-year lease covering 108,631-square-feet at the recently redeveloped 100 Park Avenue.
AECOM, which recently acquired Tishman Construction, New York’s premiere builder, is consolidating from various locations and will occupy space on floors 5, 6, 18 and 19 when it moves into the 36-story ‘New Modern Classic’ opposite Grand Central Terminal. Tishman was the original builder of 100 Park Avenue and also led the construction team during SL Green’s recent re-development of the building which won the 2008-09 BOMA International award for the best renovated office building of the year. Additionally, 100 Park Avenue was the first existing building in Manhattan to achieve a LEED Silver designation.
“This lease completes the successful re-positioning of the building which was started in 2006 when we commenced a full scale property re-development,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green and “the fact that Tishman Construction will relocate it’s headquarters to the building is a great testament to the quality of the building.”
Among other major tenants at the building are BBDO Seidman, Wells Fargo, Aetna Life Insurance Company and J&W Seligman & Co.
Joseph Simone of Tishman Real Estate Services and Adam Foster of CB Richard Ellis acted on behalf of AECOM, while Tara Stacom, Paul Glickman, Mitti Liebersohn, Alexander Chudnoff, Diana Biasotti, Jonathan Tootell and Peter Alden represented 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. SL Green is the only publicly held REIT that specializes in this niche. As of September 30, 2010, SL Green 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 September 30, 2010, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 366,312 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.
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the Manhattan, Brooklyn, Queens, Westchester County, Connecticut, Long Island and New Jersey office markets, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate.
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Forward-looking statements contained in this press release are subject to a number of risks and uncertainties which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. These risks and uncertainties include the effect of the credit crisis on general economic, business and financial conditions, and on the New York Metro real estate market in particular; dependence upon certain geographic markets; risks of real estate acquisitions, dispositions and developments, including the cost of construction delays and cost overruns; risks relating to structured finance investments; availability and creditworthiness of prospective tenants and borrowers; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; adverse changes in the real estate markets, including reduced demand for office space, increasing vacancy, and increasing availability of sublease space; availability of capital (debt and equity); unanticipated increases in financing and other costs, including a rise in interest rates; our ability to comply with financial covenants in our debt instruments; our ability to maintain our status as a REIT; risks of investing through joint venture structures, including the fulfillment by our partners of their financial obligations; the continuing threat of terrorist attacks, in particular in the New York Metro area and on our tenants; our ability to obtain adequate insurance coverage at a reasonable cost and the potential for losses in excess of our insurance coverage, including as a result of environmental contamination; and legislative, regulatory and/or safety requirements adversely affecting REITs and the real estate business, including costs of compliance with the Americans with Disabilities Act, the Fair Housing Act and other similar laws and regulations.
Other factors and risks to our business, many of which are beyond our control, are described in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
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Steven Durels, Exec VP,
Director of Leasing and Real Property
SL Green Realty Corp.