NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial property owner, today announced two major 15-year lease transactions totaling approximately 191,000 square feet at 125 Park Avenue, the 26-story, 572,705-square-foot building located directly across from Grand Central Terminal.
Newmark Grubb Knight Frank, a long-term tenant at 125 Park, has renewed 101,838 square feet of existing space and expanded by 31,377 square feet. Continuing as the building’s largest tenant, Newmark now occupies a total of 133,215 square feet.
In addition, Toronto, Canada based TD Bank signed a new 15-year lease covering 51,707 square feet of office space together with a separate lease covering 6,234 square feet of ground floor retail space for a new bank branch. Recently TD Bank signed a long-term lease for approximately 200,000 square feet to become the office and retail anchor tenant at One Vanderbilt Avenue where SL Green is proposing to construct a new, state-of-the-art, 1.6 million square foot office tower.
“Leasing momentum has been exceedingly strong this year,” noted Steven Durels, executive vice president, director of leasing and real property for SL Green, who added, “125 Park is particularly active because of its unrivaled convenience with immediate access to multiple transportation options.”
Newmark’s Brian Waterman represented his firm in the Newmark transaction and CBRE’s Robert Alexander, David Mauer-Hollander and Douglas Lehman represented TD Bank.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2014, SL Green held interests in 96 Manhattan buildings totaling 44.1 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 16.1 million square feet of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 35 suburban buildings totaling 5.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com/
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