Strong Tenant Demand Following $25 Million Capital Improvement ProgramNew York, NY – February 26, 2008 – SL Green Realty Corp. (NYSE: SLG) today announced it has completed a new 10-year lease agreement with Enterprise Asset Management, Inc. to occupy 10,022 square feet on the 18th floor of 521 Fifth Avenue.
The lease is one of a string of notable leasing transactions following SL Green’s $25 million capital improvement program at the 39-story office tower, which is situated at 43rd Street only two blocks from Grand Central Terminal.
According to Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green, “Following its repositioning, 521 Fifth Avenue has become a magnet for financial services tenants and diversified corporate service providers. Enterprise, which provides private money management service, is just such a tenant. We are delighted to welcome them to our redeveloped property.”
Built in 1929, the 39-story 462,853-square-foot building’s other tenants include Starz Media Inc, a programming production and distribution company; Hiscox, Inc., a UK reinsurance firm; and Sextant Search Partners, a leading executive search firm. Circuit City Stores, Inc. is the ground and second floor retail anchor occupying a total of 25,866 square feet.
Kevin Wang of KRW Realty Advisors represented Enterprise Asset Management in the transaction. David Turino of SL Green represented the landlord.
About SL Green Realty Corp.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of December 31, 2007, the Company owned 32 New York City office properties totaling approximately 24,728,200 square feet, making it New York’s largest office landlord. In addition, SL Green holds investment interests in, among other things, retail properties (eight) encompassing approximately 353,939 square feet, development property (one) encompassing approximately 85,000 square feet and land interests (two), along with ownership of 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.
To be added to the Company’s distribution list or to obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at 212-216-1601.
