NEW YORK CITY-Like other stocks, REITs reacted favorably Monday morning following the news that al-Qaeda leader Osama bin Laden had been killed in Pakistan by US Special Forces. Even as stocks rose, however, caution prevailed at New York’s buildings and transportation hubs.
A spokesperson for SL Green Realty Corp.--whose properties include office buildings in the Grand Central, Times Square and Penn Station areas--declined to give specifics about security measures, instead emailing GlobeSt.com a statement. “We work closely with both government authorities and our tenants to establish and manage appropriate levels of security at our properties,” the statement said. “It would be inappropriate to comment publicly on the specifics.”
Joe Donovan, preparedness chair at the Building Owners and Managers Assoc., tells GlobeSt.com that he has spoken to a number of building owners across the country and that vigilance is the prevailing strategy. “I would say that most owners are following the posture of increased vigilance and less so in increasing manned security,” Donovan says. “There’s not a lot that people can do because there’s no actionable intelligence" on the part of the Department of Homeland Security.
A Vornado Realty Trust spokeswoman, reached for comment, says that building security is not something the company comments on publicly. Donovan tells GlobeSt.com that the reluctance to talk is not surprising, given that, like local law enforcement, building owners don’t want to give any security secrets away.
Meanwhile, city and state agencies have also advised vigilance in light of last night’s news. Chris Ward, exceutive director of the Port Authority of New York and New Jersey, has directed the agency’s police force to increase its presence at all Port Authority facilities, including the World Trade Center site, PATH and Holland Tunnel, all in Lower Manhattan. “This response is not based on a current threat, but out of an abundance of caution until we have the chance to learn more,” Ward says in a statement. “In the meantime, all Port Authority facilities remain fully operational and at normal service levels.”
In a statement, a spokesman for the Metropolitan Transportation Authority said that the MTA remains on “high alert” and has increased security at key locations across the city’s transportation system in coordination with local, state and federal law enforcement partners.
A spokesman for the Times Square Alliance says that the group continues its regular public safety patrols. He declines, however, to say whether these had been stepped up in light of recent developments, referring GlobeSt.com to the New York City Police Department. Requests for more information were not returned from the NYPD in time for publication. Mayor Michael Bloomberg, however, released a statement commending the efforts of the US military and calling for residents to stay alert. “The killing of Osama bin Laden does not lessen the suffering that New Yorkers and Americans experienced at his hands,” the release read. “But it is a critically important victory for our nation.”
The news of bin Laden’s killing comes four months before the 10-year anniversary of 9/11. GlobeSt.com previously reported that the World Trade Center Memorial Plaza will be completed in time for September’s ceremony.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
