Rebranding pays off as SL Green inks latest lease at 485 Lex.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 strong leasing momentum continues at Grand Central Square's 485 Lexington Lexington. 1 City (1990 pop. 225,366), seat of Fayette co., N central Ky., in the heart of the bluegrass region; inc. 1832, made coextensive with Fayette co. 1974. Avenue with a 13,827 s/f lease expansion to Omnicom Group
The Omnicom Group (NYSE: OMC) is the world's largest advertising agency holding company in terms of revenue (and one of the big six , Inc. This latest transaction completes more than 640,000 s/f of leasing in connection with Green's redevelopment of this Class-A property. Located on Lexington Avenue between 46th and 47th Streets just steps from Grand Central Terminal, the 32-story building contains 926,122 s/f. The recent redevelopment of 485 Lexington Avenue by Green included replacement of 4,000 windows, upgrading of electric and HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free capacities, new lobby and new storefronts together with an extensive re-branding program. Prominent building tenants include Citigroup, one of the nation's leading financial institutions, St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Travelers, international provider of property casualty insurance and surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. products, and Fairchild Publications, publisher of trade and consumer newspapers and books. This latest transaction with Omnicom Group--the world's largest advertising company--brings its total lease commitment throughout the SL Green portfolio to over 660,000 and to 68,000 s/f within 485 Lexington Avenue in particular. "As the leasing activity at 485 Lexington Avenue illustrates, the Grand Central sub-market, continues to be the location of first choice for premier corporate tenants," commented Steven Durels, executive vice president and director of leasing for SL Green. "We're very proud to see our strategic renovation and re-branding efforts pay off at 485 Lexington Avenue so rapidly and with such clear success." Lee Feld of WF Realty represented the tenant in this transaction. |
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