News America Expands Lease to 138,284 SF

[IMGCAP(1)]NEW YORK CITY-News America Inc. has expanded its existing space at locally based SL Green ‘s 1185 Avenue of the Americas. The media giant took floors 22 and 23, which were previously scheduled to become vacant in 2009.

The 12-year lease for 54,472 sf brings the company’s total occupancy at the 42-story, 1.1-million-sf, class-A tower located between 46th and 47th streets, to 138,284 sf. Steven Durels, SL Green executive vice president and director of leasing and real property, tells GlobeSt.com that the prior tenant was Coopers & Dunham, whose lease was bought out in order to accommodate News America’s expansion. Although he did not disclose taking rent or aggregate lease value, he notes that asking rent was $90 per sf.

[IMGCAP(2)]The building is 100% leased, and Durels tells GlobeSt.com that there are no scheduled lease expirations through 2009. He did not comment on further lease terms.