NEW YORK, Sept. 29, 2022 (GLOBE NEWSWIRE) — SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest workplace landlord, at this time introduced that funding administration agency Franklin Templeton has signed a 15-year, 347,474 sq. foot lease at One Madison Avenue. The firm will occupy the whole eleventh by means of twenty second flooring within the tower portion of the constructing. This lease follows the just lately introduced 328,000 sq. foot lease with International Business Machines Corporation (“IBM”) and the 56,000 sq. foot lease with Chelsea Piers Fitness.
The neighborhood defining improvement, which is on schedule for completion in November 2023, is now 55% leased.
“We’re excited to welcome Franklin Templeton to One Madison Avenue,” mentioned Marc Holliday, Chairman and CEO of SL Green. “This lease and the earlier IBM transaction are the second and third largest new leases signed in Manhattan in 2022 and are validation as to the exceptional quality of the building design. One Madison will transform the Midtown South market much in the same way that One Vanderbilt Avenue has transformed the Midtown East market.”
“Nearly every part of our global organization has a presence in New York City, and this lease agreement will bring our employees together into one state-of-the-art location that provides the ideal combination of dedicated space for our specialist investment managers, collaborative space for our broader firm, and an outstanding environment for hosting our clients,” mentioned Jenny Johnson, President and CEO of Franklin Templeton. “We couldn’t be more excited to partner with SL Green on this landmark agreement for our firm.”
One Madison Avenue will mix the class of the present limestone constructing collectively with greater than 500,000 sq. ft of latest, nearly column free building. Health and wellness is paramount to the constructing design with the inclusion of DOAS HVAC, which circulates 100% contemporary outdoors air. New, outsized ground to ceiling home windows within the podium and a steady curtain wall within the tower will flood the flooring with pure daylight. Mega-sized roof terraces will present a one-of-a-kind alternative to create indoor/outside, work/leisure area. In addition to Chelsea Piers, facilities are at present anticipated to incorporate a 13,000-square-foot upscale restaurant, 10,000-square-foot artisanal eating market and seven,000-square-foot tenant-exclusive lounge with direct elevator entry to a ten,000-square-foot rooftop deck.
Franklin Templeton was represented by Rob Lowe, Jeff Cushman and John Cushman of Cushman & Wakefield. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented the owner.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan’s largest workplace landlord, is a completely built-in actual property funding belief, or REIT, that’s centered totally on buying, managing and maximizing worth of Manhattan business properties. As of June 30, 2022, SL Green held pursuits in 64 buildings totaling 34.4 million sq. ft. This included possession pursuits in 26.3 million sq. ft of Manhattan buildings and seven.2 million sq. ft securing debt and most well-liked fairness investments.
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