SL Green Inks 23,216 SF Lease Expansion and Renewal with The Schonbraun McCann Group at Grand Central Square’s 750 Third Avenue
New York, NY – July 24, 2007 – SL Green Realty Corp. (NYSE: SLG) today announced that leading real estate consulting firm, The Schonbraun McCann Group, has expanded its offices and renewed its existing lease for five years within Grand Central Square’s 750 Third Avenue in a transaction covering 23,216 square feet. In addition to its existing 11,451 square feet on the 27th floor, The Schonbraun McCann Group has added 11,765 square feet comprising the full 26th floor.
“We are very pleased The Schonbraun McCann Group has expanded their offices at 750 Third Avenue. Their decision is acknowledgement to us of the value inherent in our recently completed repositioning program, which together with the building’s convenient location in the Grand Central Terminal submarket has enhanced the building’s appeal,” commented Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green.
The 34-story 750 Third Avenue, part of SL Green’s 1.7 million square foot Grand Central Square complex recently underwent a dramatic $3.5 million redevelopment program which included a comprehensive lobby renovation including exclusively commissioned artwork, upgraded security with new turnstiles and new elevator cabs.
750 Third Avenue, now leasing at new rates to reflect its Class A status, contains 780,000 rentable square feet and has efficient floor plates ranging between 11,600 and 43,000 square feet. Among prominent building tenants are leading magazine publishing group, Fairchild Publications, investment manager, Teachers Insurance and Annuity Association and the accounting offices of Eisner, LLP.
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 June 30, 2007, the Company owned 32 New York City office properties totaling approximately 22.5 million square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in Manhattan retail properties totaling approximately 284,000 square feet at nine properties, along with ownership of 33 suburban assets totaling 7.0 million square feet in Long Island, Westchester County, Connecticut and New Jersey.
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