NEW YORK CITY-SL Green Realty Corp. has completed two leases at two of its Midtown properties, the company unveiled in a statement Thursday morning. The Manhattan office REIT signed a new 38,026-square-foot, 11-year deal for specialized staffing firm Robert Half International Inc. at 125 Park Ave., and arranged a deal for Young & Rubicam to take more space at 3 Columbus Circle.
After committing to 340,000 square feet last year, Y&R leased an additional 34,634 square feet at the 26-story property, bringing its total commitment to 373,766 square feet on 11 full floors. With the Robert Half lease at 125 Park Ave., SL Green has signed a total of 68,705 square feet at the 654,852-square-foot office building, which is located directly across from Grand Central Terminal on 42nd Street.
“This lease, together with a recently signed new lease with Emerge212 covering 30,679 square feet, improves leasing to 83.6%,” says Steven Durels, SL Green’s director of leasing and real property, adding “these two transactions covering a total of 68,705 square feet at 125 Park Ave. were both signed within the past 30 days.”
For the lease transaction with Robert Half International at 125 Park Avenue, Hal Stein and Neil Goldmacher of Newmark Grubb Knight Frank represented the tenant and SL Green was represented by Brian Waterman, David Falk, Daniel Levine, Peter Shimkin and Jonathan Tootell of Newmark Grubb Knight Frank.
CBRE’s Mary Ann Tighe and Gregory Tosko represented Y&R at 3 Columbus Circle, while Newmark Knight Frank’s Brian Waterman, Scott Klau and James Kuhn acted on behalf of SL Green.
In addition to the new leases, the REIT also reached an agreement with 673 First Avenue Associates to extend the ground lease at that property to August 2087, an additional 50 years past its scheduled 2037 expiration date. The 12-story, 425,000-square-foot property is located in the heart of the east side’s medical corridor on the northwest corner of 38th Street and First Avenue.
SL Green is also selling a 49.5% equity interest in 521 Fifth Ave. for $72 million to Plaza Global Real Estate Partners, a venture between Quantum Global Real Estate and LaSalle Investment Management.
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