NEW YORK–(BUSINESS WIRE)–
SL Green Realty Corp (NYSE:SLG), New York City’s largest commercial
property owner, and The Moinian Group, today announced they have signed
a 23-year, 43,000-square-foot lease with Nordstrom (NYSE:JWN), one of
the nation’s leading fashion specialty retailers, to anchor three levels
of retail space at 3 Columbus Circle.
The complex transaction involved a series of lease modifications and
relocations including the buyout of the corner bank branch in advance of
lease expiration, continuing SL Green’s strategy of replacing below
market leases throughout its portfolio. The new store will serve as an
expansion of the Nordstrom full-line flagship store, which is debuting
on West 57th Street.
Brett Herschenfeld, SL Green Managing Director, commented, “We are
thrilled that such a prestigious, world-class retailer will anchor 3
Columbus Circle at the corner of Broadway and 57th Street.
New Yorkers have waited a long time to welcome Nordstrom, a retailer
that flourishes throughout the United States and which will further
solidify Midtown Manhattan as the destination for high-end retail
shopping.”
Derek Trulson from Jones Lang LaSalle and Stephen Stephanou from Crown
Retail Services represented Nordstrom, while Jeff Winick from Winick
Realty Group acted on behalf of the landlord.
About SL Green Realty Corp.
SL Green Realty Corp., New York City’s largest office landlord and an
S&P 500 Company, is a fully integrated real estate investment trust, or
REIT, that is focused primarily on acquiring, managing and maximizing
value of Manhattan commercial properties. As of September 30, 2015, SL
Green held interests in 121 Manhattan buildings totaling 43.2 million
square feet. This included ownership interests in 30.6 million square
feet of commercial buildings and debt and preferred equity investments
secured by 12.6 million square feet of buildings. In addition to its
Manhattan investments, SL Green held ownership interests in 35 suburban
buildings totaling 5.3 million square feet in Brooklyn, Long Island,
Westchester County, Connecticut and New Jersey.
About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in the
U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom
operates 323 stores in 39 states, including 121 full-line stores in the
United States, Canada and Puerto Rico; 194 Nordstrom Rack stores; two Jeffrey
boutiques; and one clearance store. Additionally, customers are served
online through Nordstrom.com,
and HauteLook.
The company also owns Trunk Club, a personalized clothing service
serving customers online at TrunkClub.com
and its five clubhouses. Nordstrom, Inc.’s common stock is publicly
traded on the NYSE under the symbol JWN.
About The Moinian Group
Founded by Joseph Moinian, The Moinian Group today owns and operates a
diversified portfolio of assets across the United States 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.
SLG-LEAS
View source version on businesswire.com: http://www.businesswire.com/news/home/20160127006449/en/
Brett Herschenfeld
Managing Director
SL Green Realty Corp.
212-594-2700
or
Dan
Evans
Nordstrom, Inc.
206-303-3036
Source: SL Green Realty Corp
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