New York, NY – April 24, 2013 – SL Green Realty Corp (NYSE: SLG) and The Moinian Group today announced that CVS Caremark, the largest integrated pharmacy in the United States, has signed a new 15-year lease for 21,159 square feet covering the vacant portion of the ground and a portion of the second floors at 3 Columbus Circle, the 768,565-square-foot office building formerly known as 1775 Broadway.
Occupying the entire block between Broadway and Eighth Avenue, the newly-redeveloped, 26-story building commands a premier Westside location, steps from the roundabout at Columbus Circle. SL Green together with partner, The Moinian Group, recently completed a building-wide redevelopment that includes a new glass façade, relocated and expanded lobby, new elevators, new bathrooms, electric distribution and extensive HVAC, security and related infrastructure upgrades. The building’s anchor office tenant is the world headquarters for Young & Rubicam.
“We’re delighted to welcome CVS, a widely-respected national retailer, to 3 Columbus Circle,” said Steven Durels, Director of Leasing and Real Property at SL Green, who added that “CVS recognized the building’s unique location, which benefits from close proximity to Columbus Circle, tremendous pedestrian traffic from seven subway lines, nearby construction of three new hotels and some of the world’s most expensive residential condominiums, together with New York’s first soon-to-be-constructed Nordstrom’s.
Jason Pruger, Newmark Grubb Knight Frank represented CVS in the transaction, while Jeff Winick of Winick Realty Group acted on behalf of the landlord.
About SL Green
SL Green Realty Corp., New York City’s largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2013, SL Green owned interests in 89 Manhattan properties totaling 41.6 million square feet. This included ownership interests in 25 million square feet of commercial properties and debt and preferred equity investments secured by 13.8 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 31 suburban assets totaling 5.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with four development properties in the suburbs encompassing approximately 0.5 million square feet. The Company also has ownership interests in 31 properties totaling 4.5 million square feet in southern California.
About The Moinian Group
Founded by Joseph Moinian, The Moinian Group today owns and operates a diversified portfolio of assets across the U.S.- and is among the only national real estate entities to develop, own and operate properties across every asset category, including office, hotel, retail, condos and rental apartments. The Moinian Group’s holdings include high-profile assets in America’s leading cities, including New York, Chicago, Dallas and Los Angeles. For the past three decades, The Moinian Group has been a pioneer in the development of emerging areas of New York City such as Downtown and West Side of Manhattan, developing commercial, residential and mixed-use projects that combine luxury living, modern office space and high quality retail. The Moinian Group maintains a reputation for developing state-of-the-art, aesthetically distinguished properties as the firm continues to strive for excellence.
CONTACT
Steven Durels, Exec VP,
Director of Leasing and Real Property
SL Green Realty Corp.
(212) 216-1617
-or-
Heidi Gillette
Director, Investor Relations
212.594.2700