NEW YORK CITY-SL Green Realty Corp. has inked 318,000 square feet of leases, across three of the company’s buildings. The leases--for Bloomingdales, Beth Israel Medical Center and HealthFirst--represent a nod toward the strength of healthcare and Manhattan’s retail.
New York City healthcare jobs have steadily increased over the past decade, according to data from the New York State Department of Labor. And CBRE reported Monday at an inaugural retail-focused quarterly breakfast that retail was showing no signs of letting down, either.
These three SL Green lease transactions include 95,271 square feet of expansions among the two industries.
Though the company wasn’t available to comment in time for publication, Steven Durels, EVP and director of leasing and real property for SL Green, said in a prepared statement that it viewed the leases as “confirmation of continued healthy leasing activity” as the end of the year approached.
“Well-established organizations in a wide variety of industry sectors continue to evaluate their long-term space requirements and take advantage of current opportunities to lock in rents at premier SL Green-owned and operated buildings,” Durels added.
SL Green’s funds From operations, however, fell for the third quarter of 2011--to $1 per share, from $1.82 a share the same period a year previous.
For the lease transactions, Bloomingdales will expand into 147,652 square feet in a 10-year lease at 919 Third Ave., leaving the 1.5-million-square-foot, 47-story tower 100% occupied. CBRE’s Scott Gottlieb and Michael Laginestra represented the retailer.
At 555 W. 57th St., Beth Israel Medical Center signed a 112,941-square-foot lease renewal, represented by Josh Kuriloff of Cushman & Wakefield. The health care provider renewed for a 15-year term at the nearly 1-million-square-foot building.
Lastly, at 100 Church St., Derek Trulson and Bill Peters of Jones Lang LaSalle represented HealthFirst in a 57,817-square-foot, 20-year expansion. The health insurance provider will now occupy a total of 229,817 square feet in the building.
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