SL Green Realty Corp. (NYSE: SLG) has signed a 92,663-square-foot expansion lease with IBM (NYSE: IBM) at One Madison Avenue at New York City, increasing the tech giant’s total footprint at the property to 362,092 square feet.
The 15-year lease covers the entire seventh floor and brings the 49-story building to 72% leased with tenants including Franklin Templeton and Palo Alto Networks.
“We are delighted to expand our valued partnership with IBM and support their continued growth and expansion in New York City,” said Steven Durels, executive vice president and director of leasing and real property at SL Green. “IBM’s commitment to One Madison Avenue is a testament to the desirability for best-in-class work environments by forward looking tenants.”
“The expansion of IBM’s flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,” added Joanne Wright, IBM senior vice president for transformation and operations.
IBM was represented by Patrick Murphy and Winston Schromm of Jones Lang LaSalle (NYSE: JLL). SL Green was represented by Paul Glickman, Alex Chudnoff, Ben Bass and Diana Biasotti of Jones Lang LaSalle.
Photo by Yuankei / Flickr Creative Commons
