Total Long Term Commitment Increased to 231,114 Sq. Ft.
NEW YORK–(BUSINESS WIRE)–
SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial
property owner, today announced that Omnicom Group has signed a renewal
lease covering 64,111 square feet at 220 East 42nd Street, also known as
the “News Building”. The 15-year renewal for the entire ninth floor is
in addition to Omnicom’s recent renewal of 167,003 square feet announced
in January, and increases its total long term commitment to 231,114
The News Building is a 37-story, 1.2 million square-foot landmark tower
located two blocks from Grand Central Terminal. Other prestigious
tenants include WPIX TV, Tribune Company, The United Nations and Martin
Clearwater & Bell.
“We are honored to once again work with Omnicom and their real estate
representative with whom we have completed numerous transactions over
the years,” said Steven Durels, Director of Leasing and Real Property
for SL Green.
Lee Feld of Feld Real Estate LLC represented Omnicom in the transaction,
while SL Green acted on its own behalf.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City’s largest
office landlord, 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 March 31, 2016, the
Company held interests in 121 Manhattan buildings totaling 47.7 million
square feet. This included ownership interests in 29.9 million square
feet of commercial buildings and debt and preferred equity investments
secured by 17.8 million square feet of buildings. In addition, the
Company held ownership interests in 31 suburban buildings totaling 4.9
million square feet in Brooklyn, Long Island, Westchester County,
Connecticut and New Jersey.
Steven Durels, Exec VP,
Director of Leasing and Real Property
Green Realty Corp.
Source: SL Green Realty Corp.
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