DeVry College extends, expands lease to 19,397 SF at Tower 45; investment firm Horton Point to occupy 5,877 SF at Class A, 397,188-SF office building
NEW YORK, , NY – January 18, 2012 – (RealEstateRama) — Jones Lang LaSalle has completed two transactions totaling 25,274 square feet of office space for SL Green Realty Corp. at 120 West 45th Street, also known as Tower 45. DeVry College of New York signed a 10-year lease expansion and extension for 19,397 square feet. Horton Point LLC signed a new five-year lease for 5,877 square feet at the Class A, 397,188-square-foot office building.
Building owner SL Green Realty was represented in both transactions by Paul N. Glickman and Frank Doyle, vice chairmen; Diana Biasotti and David Kleiner, senior vice presidents; and Jonathan Tootell, vice president, all with Jones Lang LaSalle. Tenant Devry was represented by Erica Rubenstein, director, with Newmark Knight Frank. Tenant Horton Point was represented by Jordan Mandel, principal, with The Vortex Group LLC.
“Tenants are lured to Tower 45 due to its excellent location and SL Green Realty’s impeccable management of the building.” said Glickman. “Given the building’s accessibility from the three major commutation hubs and more than 10 subway lines, both DeVry College and Horton Point were able to take advantage of this boutique office environment while remaining conveniently located to their core clientele.”
DeVry College already leased 13,357 square feet at 120 West 45th Street, occupying a portion of the sixth floor and the entire second floor for its Keller Graduate School of Management. The college extended the lease on its original space and expanded by 6,040 square feet to take the entire sixth floor.
Horton Point will occupy a portion of the fourth floor at Tower 45, which is located in the Bryant Park neighborhood on West 45th Street, between Sixth and Seventh avenues. The investment firm is relocating to 120 West 45th Street from 1180 Avenue of the Americas.
Jones Lang LaSalle is a leader in the New York tri-state commercial real estate market, with more than 1,700 of the most recognized industry experts offering brokerage, capital markets, facilities management, consulting, and project and development services. In 2010, the New York tri-state team completed approximately 17 million square feet in lease transactions, completed capital markets transactions valued at $861 million, managed projects valued at more than $5.8 billion, and oversaw a property and facilities management portfolio of 83.5 million square feet.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
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Phone: +1-212-627-5766
Email: mfaris (at) sheacommunications (dot) com
