(For more retail coverage, click GlobeSt.com/RETAIL.)
NEW YORK CITY-Equity Office Properties is under agreement totake title to the office portion of 1540 Broadway in Times Square,sources tell GlobeSt.com. And Vornado Realty Trust has entered intoan agreement to take the retail, signage and parking components fora purchase price of $260 million. The deal has an aggregate valueof approximately $820 million.
Eastdil Secured acted as the exclusive advisor the seller,Paramount Group. An EOP spokesperson tells GlobeSt.com that thefirm is not commenting as of yet. Built in 1990, the site has anoffice roster that includes BMG Entertainment Worldwide and Gruner+ Jahr Int'l Marketing and Media Services. Last year, media giantViacom Inc. inked a deal for 305,000 sf, comprising 10 fullfloors.
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