By a News Reporter-Staff News Editor at Real Estate Weekly News -- SL Green Realty Corp. (NYSE:SLG), New York City's largest commercial property owner, announced that Omnicom Group has signed a renewal lease covering 64,111 square feet at 220 East 42nd Street, also known as the "News Building". The 15-year renewal for the entire ninth floor is in addition to Omnicom's recent renewal of 167,003 square feet announced in January, and increases its total long term commitment to 231,114 square feet.
The News Building is a 37-story, 1.2 million square-foot landmark tower located two blocks from Grand Central Terminal. Other prestigious tenants include WPIX TV, Tribune Company, The United Nations and Martin Clearwater & Bell.
"We are honored to once again work with Omnicom and their real estate representative with whom we have completed numerous transactions over the years," said Steven Durels, Director of Leasing and Real Property for SL Green.
Lee Feld of Feld Real Estate LLC represented Omnicom in the transaction, while SL Green acted on its own behalf. About SL Green Realty Corp. SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2016, the Company held interests in 121 Manhattan buildings totaling 47.7 million square feet. This included ownership interests in 29.9 million square feet of commercial buildings and debt and preferred equity investments secured by 17.8 million square feet of buildings. In addition, the Company held ownership interests in 31 suburban buildings totaling 4.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.
SLG-LEAS View source version on businesswire.com: http://www.businesswire.com/news/home/20160720005439/en/
Keywords for this news article include: Real Estate, SL Green Realty Corp.
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