NEW YORK CITY-Konica Minolta Business Solutions Inc., an office equipment manufacturer, has traded in its offices at SL Green Realty Corp.’s 420 Lexington Ave. for a 13-year lease on the 26,400-sf, 19th floor at 485 Lexington Ave. to accommodate its expanding business needs.

Frank Coco of Cushman & Wakefield Inc. represented the tenant and Paul Glickman, Mitti Liebersohn, Diana Biasotti, Tara Stacom, Alexander Chudnoff and Steven Bauer of Cushman & Wakefield Inc. represented the landlord in this transaction.

“We were able to provide Konica Minolta with expansion space in a high-profile building and simultaneously recapture their existing lease, which had several years of remaining term. This is an example of the benefits provided tenants within our portfolio of properties,” says Steven Durels, EVP and director of leasing and real property for SL Green. “We’re delighted we were so rapidly able to facilitate new accommodations for Konica Minolta at 485 Lexington Ave. where the company’s name and reputation are strong complements to the property’s prominent tenant roster.”

Located on Lexington Avenue between 46th and 47th streets just steps from Grand Central Terminal, 485 Lexington Ave. is a 32-story building containing 926,122 sf. The recent redevelopment of the property by SL Green included replacement of 4,000 windows, enhanced electric and HVAC capacities, new lobby and new storefronts together with an extensive re-branding program. Prominent tenants include Citigroup, St. Paul Travelers and Omnicom Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.