Benefits company renews 29,000 s/f lease at SL Green's 470 Park Avenue.SL Green Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp. announced that it has completed a six-year lease renewal with employee benefits counselor, Progressive Plan Administrators, Inc, for a total of 29,291 s/f, covering the entire sixth and portion of the fifth floors at 470 Park Avenue South. Commenting on the new agreement, Steven M. Durels, executive vice president and director of leasing for SL Green, said, "Progressive Plan Administrators is a long-term, valued tenant who understood the dynamics of a rapidly rising market and chose to extend its lease well in advance of the scheduled lease expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created rather than be exposed to higher future rents." Located between 31st and 32nd Streets, 470 Park Avenue South, a 260,000 square foot, building, is within easy walking distance to Grand Central Terminal and the retail and dining establishments of Union Square. The building features a recently renovated lobby and entrance and new elevator elevator, in machinery elevator, in machinery, device for transporting people or goods from one level to another. The term is applied to the enclosed structures as well as the open platforms used to provide vertical transportation in buildings, large ships, cabs. Prestigious tenants include performing arts management company, Artists Acquisition LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , leading not for profit public education organization, the Foreign Policy Association and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. . John Mambrino of Studley, Inc. represented the tenant in this transaction. The landlord was represented in-house by David Turino. |
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