SL Green Reports 101,082 Square Feet of Suburban Leases

  SL Green Reports 101,082 Square Feet of Suburban Leases

Business Wire

NEW YORK -- March 4, 2013

Reckson, a division of SL Green Realty Corp. (NYSE: SLG), reported today that
it has signed three suburban office portfolio leases totaling 101,082 square
feet in Westchester County, New York. This multifaceted transaction was
comprised of four separate leases (including one in Manhattan), in three
locations for two different tenants in order to meet the tenants’ respective
space needs and, most notably, included a 67,145 square foot, long term
headquarters lease signed by Xylem Inc. (NYSE: XYL), a leading provider
globally of advanced water technology solutions, at 1 International Drive in
Rye Brook, New York.

Sufficient space was made available at the building due to Reckson’s ability
to negotiate the relocation of a unit of Verizon from 1 International Drive to
500 Summit Lake Drive in Valhalla, New York, where it signed a 29,756 square
foot lease. The deal increases occupancy at 500 Summit Lake Drive to 90

The final two components of the transaction included Verizon's extension of an
existing 4,181 square foot lease at 1 International Drive along with an
extension on 10,000 square feet at 120 West 45th Street, also known as Tower
45, in Manhattan “We are thrilled that Xylem is locating its headquarters at 1
International Drive and joining our prominent roster of high quality tenants
at the office park,” said John Barnes, Senior Vice President and Managing
Director of Reckson. “This was a very complicated transaction with many moving
parts. The Reckson team was exceptionally creative in devising solutions that
would accommodate both tenants in different suburban locations while
collaborating with the SL Green NYC leasing team on Verizon's renewal at Tower

About SL Green

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 December 31, 2012, SL Green owned interests in 85 Manhattan
properties totaling 40.8 million square feet. This included ownership
interests in 27.8 million square feet of commercial properties and debt and
preferred equity investments secured by 13.0 million square feet of
properties. In addition to its Manhattan investments, SL Green holds ownership
interests in 31 suburban assets totaling 5.4 million square feet in Brooklyn,
Long Island, Westchester County, Connecticut and New Jersey, along with four
development properties in the suburbs encompassing approximately 0.5 million
square feet. The Company also has ownership interests in 31 properties
totaling 4.5 million square feet in southern California.


Reckson, a division of SL Green Realty Corp.
John Barnes, 914-872-4750
Senior Vice President and Managing Director
Press spacebar to pause and continue. Press esc to stop.