Hess has been one of the building's original tenants since 1973. Steven Durels, executive vice president and director of leasing and real property for SL Green, could not disclose taking rent or aggregate lease value, but he notes that asking rent is $90 per sf. He also says that the building is 100% leased.
[IMGCAP(2)]The fact that Hess has made 1185 its worldwide headquarters is a testament to the quality of the building and we are very pleased to be able to meet their continuing real estate needs," Durels says. Located between 46th and 47th streets, 1185 Avenue of the Americas offers a newly renovated lobby and elevator cabs and features direct access to Rockefeller Center Concourse and is situated within walking distance of Grand Central Terminal, Penn Station, Port Authority and many subway lines.
Hess Corp. was represented by Stephen Siegel and Douglas Lehman of CB Richard Ellis. CBRE could not divulge taking rents or aggregate lease value at this time. The landlord was represented in-house by Howard Tenenbaum and Gary Rosen. Other major tenants in the building include News America Inc., Bank of America, King & Spalding, National Hockey League and RSM McGladrey.
As GlobeSt.com reported in early June, accounting giant RSM McGladrey Inc., a division of H&R Block, signed a long-term, 164,771-sf lease renewal and expansion at the SL Green property, and Westdeutsche Landesbank surrendered the entire 7th floor covering 27,508 sf, which had eight years of a remaining term at below market rent. The surrender included a buyout fee paid to the landlord.
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