Legg Mason takes 200,000 s/f at top of The Times building.Forest City Ratner Companies announced that Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason , the global asset management firm, and its subsidiaries, Western Asset Management Company and ClearBridge Advisors, have agreed to lease approximately 200,000 s/f in The New York Times Building The New York Times Building is a skyscraper on the west side of Midtown Manhattan, New York that was completed in 2007. Its chief tenant is The New York Times Company, publisher of the The New York Times, The Boston Globe, the International Herald Tribune approaching completion near Times Square. With the signing, more than 75% of the 700,000 s/f of space owned by Forest City in the building has now been leased. Legg Mason, headquartered in Baltimore, is the fourth and largest tenant to lease space from the FCRC FCRC Forest City Ratner Companies FCRC Federated Computing Research Conference FCRC Federal Contract Research Center FCRC Florida Conflict Resolution Consortium FCRC Fairfax County Republican Committee (Virginia) portion of the Times building since leasing began earlier this year. The investment firm and subsidiaries Western Asset and ClearBridge Advisors will occupy floors 45 through 50 and commit to the design and construction of a roof-top space garden. Western Asset plans to create a rooftop conference center with a landscaped garden on the 52nd floor. The roof will be enclosed by the building's dramatic curtain wall curtain wall Nonbearing wall of glass, metal, or masonry attached to a building's exterior structural frame. After World War II, low energy costs gave impetus to the concept of the tall building as a glass prism, an idea originally put forth by Le Corbusier and Ludwig Mies of ceramic rods that will extend 73 feet above the roof line. The conference center and garden will be designed by the building's architect, Pritzker Prize-winning architect Renzo Piano Renzo Piano (September 14 1937) is a world renowned Italian architect and Pritzker Architecture Prize winner. Biography Piano was born in Genoa, where he still maintains a home and office (Building Workshop). , in collaboration with FXFOWLE Architects and landscape architect Hank White of HM White Site Architects. "I'm delighted that Legg Mason and its subsidiaries have agreed to become our largest tenant and make The New York Times Building their signature New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. location," said Bruce Ratner Bruce Ratner (born January 23, 1945 in Cleveland, Ohio) is president and CEO of Forest City Ratner, the New York division of Forest City Enterprises, which is based in Cleveland. Ratner was New York City's most active real estate developer during the 1990s. , president of FCRC. "We are particularly pleased that Western Asset will be creating a roof garden and conference center to be designed by Renzo Piano that will blend in seamlessly with his outstanding architecture." The New York Times Building will be the headquarters for ClearBridge Advisors as well as for Legg Mason Western Asset's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of operations. Western Asset Management Company specializes in fixed-income management for institutional investors and ClearBridge Advisors is an equity-focused investment management firm. Occupancy is set for fall of 2007. FCRC was represented by a team led by Mary Ann Tighe, including Howard Fiddle, Tim Dempsey, Pete Turchin, Matt Preotle and Jason Pollen of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. . Legg Mason was represented Kenneth D. Rapp, Douglas P. Marlow, Christopher Mansfield and Casey Hirschhorn of CB Richard Ellis. FCRC owns floors 28 through 52 as well as 21,000 s/f of retail space on the ground floor of The New York Times Building. Forest City Ratner Companies has also executed an agreement to acquire its financial partner, ING Real Estate's interest in The New York Times Building. FCRC and ING announced in June that Forest City Ratner would become the sole owner of the 700,000 square foot office condominium. The New York Times Company will own and occupy the rest of the building, which will serve as its corporate headquarters. Located at 620 Eighth Avenue, the 1.6 million square foot, 52-story tower was designed by Renzo Piano in collaboration with FXFOWLE Architects. |
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