Another Day, Another Lease for SL Green
The REIT has signed two new leases at One Vanderbilt Ave. totalling 43,000 square feet.
On the heels of yesterday’s announcement that it had secured a 99,556 square foot lease at 11 Madison Ave., SL Green reports it has signed two new leases for its crown jewel at One Vanderbilt Ave., totaling 43,000 square feet. The new leases bring the building’s occupancy to 73%.
Walker & Dunlop has signed a 16,614-square-foot, seven-year lease for a portion of the 33rd floor. Separately, a financial services firm has signed a 26,770-square-foot, 15-year lease for the entire 55th floor.
“Leasing velocity remains strong with seven leases signed and multiple leases in negotiation since the on-set of the pandemic,” says Steven Durels, EVP and director of Leasing and Real Property at SL Green, in prepared remarks.
The REIT opened the doors to its 1.7 million-square-foot skyscraper last fall amid a severe dislocation in New York City’s office market due to the pandemic. The building premiered with a 70% occupancy rate and tenants include TD Securities, TD Bank, The Carlyle Group, KPS Capital Partners, Oak Hill Advisors, InTandem Capital, SageWind Capital and Sentinel Capital Partners, among others.
Emily Jones and Reeves McCall of CBRE represented Walker & Dunlop. Robert Alexander, Ryan Alexander and Alex D’Amario of CBRE represented the landlord in the Walker & Dunlop transaction.
Dale Schlather of Cushman & Wakefield represented the financial services firm. Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented the landlord in this transaction.
In another sign that leasing activity may be picking up in the beleaguered city, HNA Group North America announced it has secured 224,408 in three new leases, two of which were renewals and one was with a subtenant, at 245 Park Ave. SL Green was the leasing agent for the 1.78 million-square-foot, 44-story tower.
One of the tenants is Ares Management, which signed a five-year lease renewal and expansion, covering 38,564 square feet on the 41st floor. It was represented by Dan Horowitz, Jeff Peck, John Bertram and Roi Shleifer of Savills.
The Norinchukin Bank, a Japanese cooperative bank, signed a five-year lease renewal, covering 37,611 square feet on the entire 21st floor. It was represented by Daoud Awad and Hitoshi Aratani of Jones Lang LaSalle.
Also, Houlihan Lokey, an existing subtenant in the building, signed a new ten-year lease covering 148,233 square feet on entire floors 17-20. The tenant was represented by John Maher, Paul Stimpfle and Peter Gamber of CBRE.
SL Green, together with Patrick Murphy, Tara Stacom, Ron LoRusso, Justin Royce, Pierce Hance and Will Yeatman of Cushman & Wakefield represented the landlord in each of the transactions.