Jonathan Fanuzzi, managing director of Newmark Knight Frank, thebuilding's managing and leasing agent, tells GlobeSt.com that theimprovement program will have minimal impact on the tenants. Thebuilding is currently 86% occupied.
Fanuzzi says that the rent has increased dramatically over thepast 12 months with the promise of completing the program and"should continue to grow." He adds that the program should becomplete by July 2009.
Fanuzzi explains to GlobeSt.com that the building's improvementsare part of a wider $1.5 billion capital improvements programthroughout the W&H Properties portfolio. The improvements arecomplete at the four original properties in the portfolio, and areunderway at the five buildings--including 1350 Broadway--that wereadded to the portfolio in 2007.
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