SL Green Realty Corp. (NYSE: SLG) announced today that IMG Worldwide has renewed and expanded its lease commitment at 304 Park Avenue South covering a total of 72,080 square feet for 15 years. IMG Worldwide is a global sports, fashion and media business operating in more than 30 countries around the globe. IMG represents the world’s top models, leading designers, elite athletes, coaches and industry executives.
304 Park Avenue South is a 210,000-square-foot, 12-story property located directly across from Madison Square Park. The building is located in the heart of the midtown south market and features immediate proximity to mass transportation, 18,000 square foot floors and recent lobby and elevator upgrades which make it ideal for creative, high profile companies searching for space within one of the country’s best sub-markets.
“We’re thrilled to have been able to satisfy IMG’s growth requirement and we look forward to continuing their long term occupancy as the building’s anchor tenant,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green Realty Corp.
CBRE’s Michael R. Laginestra, Rocco Laginestra and Christopher Mansfield represented IMG in the transaction, while Mr. Durels, Howard Tenenbaum and Gary Rosen acted in-house on behalf of SL Green.About SL Green Realty Corp. SL Green Realty Corp., New York City's largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2013, SL Green owned interests in 87 Manhattan properties totaling 42.8 million square feet. This included ownership interests in 27.8 million square feet of commercial properties and debt and preferred equity investments secured by 15.0 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 36 suburban assets totaling 6.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with three development properties in the suburbs encompassing approximately 0.4 million square feet. The Company also has ownership interests in 30 properties totaling 4.1 million square feet in southern California.
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