NEW YORK CITY-Tuesday morning brought an announcement of onemulti-floor Manhattan headquarters lease, and Tuesday afternoonbrought two more. Rudin Management Co. said late yesterdayafternoon that the National Football League has signed a 20-yearlease for approximately 175,000 square feet at 345 Park Ave. forits new headquarters, while SL Green Realty Corp. announced thatCBS Broadcasting had extended its lease for 281,896 square feet ofstudio space at 555 W. 57th St. through 2023. In all, nearly800,000 square feet of big leases in Manhattan and its suburbs wereannounced Tuesday.

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The NFL is relocating from Broadway Partners’ 280 Park Ave. andreducing its square footage by about 15% from the 205,000 squarefeet it currently occupies at 280 Park. Along with three fullfloors totaling about 143,000 square feet, the league is alsotaking approximately 30,000 square feet of below-grade space at 345Park. According to a release, the below-grade space could be usedfor various operational and administrative departments.

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Eric Grubman, EVP of NFL Ventures and business operations, saysin the release that the 44-story 345 Park is “an outstandingbuilding and will enable us to be more efficient.” Efficiency isthe name of the game, according to the Wall StreetJournal: in reporting the pending lease earlier this week, theWSJ cited NFL commissioner Roger Goodell’s 2008 directiveto cut league expenses by $50 million.

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Cushman & Wakefield’s Franklin Speyer and LouD’Avanzo, together with Peter Hennessy and Daoud Awad of Jones LangLaSalle, represented the NFL. Tom Keating of Rudin Managementrepresented the 345 Park ownership. The league is expected to makethe move up Park Avenue in the third quarter of 2011.

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On the CBS renewal, Michael Laginestra, ScottGottlieb and Andrew Sussman, all of CB Richard Ellis, representedthe broadcasting giant in lease negotations. SL Green wasrepresented in-house by Steven Durels, EVP and director of leasingand real property. Other tenants at the 20-story,one-million-square-foot Far West Side property include the CityUniversity of New York and BMW of Manhattan.

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For SL Green, the CBS deal followed the newsearlier on Tuesday that the REIT had signed Healthfirst to 172,000square feet at 100 Church St., the largely vacant Downtown officeproperty on which it foreclosed this past January and subsequentlyacquired. The nonprofit managed-care organization is the firstoffice tenant SL Green has signed since it began a repositioningprogram at the 1.1-million-square-foot 100 Church earlier thisyear.

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Additionally, SL Green subsidiary Reckson on Tuesday announced apair of corporate leases in the Westchester and Fairfield Countysubmarkets. Pepsico, the anchor tenant at Reckson's250,000-square-foot 100 Summit Lake Dr. in Valhalla, NY, renewedits 75,000-square-foot lease there for 10 more years. In Stamford,CT, Citigroup signed a five-year early renewal lease for 82,000square feet at 750 Washington Blvd., an 11-story,192,000-square-foot downtown office property.

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Noting that the four deals within the SL Green/Reckson portfoliototaled more than 610,000 square feet of leases transacted withinthe past few days, Durels adds in a statement, “CBS, Citigroup andPepsico were all renewals, confirming that large tenants arechoosing to lock in favorable occupancy costs with financiallystable landlords while also providing building owners withlong-term stability and rent increases over and above the in-placerent.”

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.