SL Green Signs Sun Capital Advisors to Full Floor at 100 Park Avenue
New York, NY – November 26, 2007 - SL Green Realty Corp. (NYSE: SLG) today announced that it has completed a new 10-year lease agreement at 100 Park Avenue with Sun Capital Advisors, Inc. for the entire 33rd floor comprising 10,750 square feet.
100 Park Avenue is currently undergoing a dramatic $70 million redevelopment program that will transform the property into the premier Park Avenue office building in the Grand Central area. The building has completed a spectacular new, two-story atrium lobby and has installed 2,500 new insulated windows. Renovations include a stunning new glass façade, sleek new elevator cabs with glass and stone accents, new HVAC systems, upgraded electric capacity, a new emergency generator, and state-of-the-art security.
Commenting on the new agreement, Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green, said, “As our redevelopment plan nears completion, most apparent with the new glass facade and new lobby, elevator cabs and double height storefronts, companies that value distinctive architecture are finding their way to 100 Park Avenue. We are very pleased to welcome Sun Capital Advisors, Inc. to 100 Park Avenue where the firm will join other prominent tenants.”
Located one block south of Grand Central Terminal between 40th and 41st streets, 100 Park Avenue is a 36-story, Class A building, containing 887,489 rentable square feet. The building offers 10,300 to 45,000 square foot floors. Other prestigious tenants include J&W Seligman and Co. Incorporated, Seligman Data Corporation, Impala Asset Management, General American Investors, Kreindler & Kreindler, Fox Rothschild LLP and Gerling America Insurance.
Clyde E. Reetz of Cushman & Wakefield represented the tenant in this transaction.
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 September 30, 2007, the Company owned 31 New York City office properties totaling approximately 22,353,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, retail properties (10) encompassing approximately 393,789 square feet, development property (one) encompassing approximately 85,000 square feet and land interests (two), along with ownership of 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.