SL Green signs 300,000 s/f in deals at Midtown properties.

SL Green Realty Corp. announced the signing of several leases totaling approximately 333,000 s/f at its Midtown Manhattan properties.

Included are 275,000 s/f of leases at the newly repositioned Grand Central Square complex with St. Paul Travelers (210,609 s/f), Fairchild Publications, Inc. (52,573 s/f) and Drake Beam Morin (11,465 s/f.)

At Grand Central Square's 485 Lexington Avenue building, St. Paul Travelers will be located in the base of the building for 10 1/2 years commencing February 2006 and Fairchild Publications has leased the entire 2nd floor for 15 years commencing February 2006.

The Fairchild lease represents an expansion of their existing space at 750 Third Avenue, for a total commitment within the complex of 327,111s/f.

At the adjacent 750 Third Avenue building, Drake Beam Morin has leased an entire tower floor for 10 years beginning in December 2005.

SLG Leasing LLC and Cushman & Wakefield, Inc. jointly serve as the leasing agent at Grand Central Square. The Staubach Company represented St. Paul's Travelers and Drake Beam Morin on their lease, while CB Richard Ellis represented Fairchild Publications.

SL Green also announced that Polo Ralph Lauren has expanded at 625 Madison Avenue by 48,207 square feet, by leasing the entire 6th and part of the 3rd floors for a total occupancy of 234,207 square feet. SLG Leasing LLC and Cushman Wakefield, Inc. represented the landlord, while Studley, Inc represented the tenant.

The leases announced for Grand Central Square illustrate the momentum that continues to build following SL Green's acquisition of the complex in July 2004. Since acquisition, the Company initiated a $90 million renovation and repositioning program and a major leasing and marketing campaign, which included a successful re-branding effort.

In October 2005, a lease agreement for approximately 11 years was signed with Citibank N.A., who will occupy 296,756 or 32% of 485 Lexington Avenue.

The Company also announced at that time that it had signed a three-year lease with TIAA-CREF for 85,000 square feet and a 10-year lease with Colonial Consulting for 12,000 square feet at 750 Third Avenue.

Marc Holliday, president and chief executive officer of SL Green, commented, "Absorption in Midtown Manhattan continues to be very strong--the area is a magnet for tenants relocating from elsewhere and for those already here who are looking to expand.

"We're pleased that we have positioned Grand Central Square in particular to take advantage of tenant appetite for Class A office space--particularly large blocks of it. We anticipate continuing to fill the building rapidly--ahead of our original projections."