SL Green Inks 347,000 Square Foot Lease with Franklin Templeton at One Madison Avenue
SL Green Realty Corp. (NYSE: SLG) announced a 15-year lease with Franklin Templeton for 347,474 square feet at One Madison Avenue. This follows recent leases with IBM and Chelsea Piers Fitness, bringing the building's leasing to 55% completion. Set to open in November 2023, One Madison will provide state-of-the-art facilities, including health-focused design features like DOAS HVAC and oversized windows. This development is viewed as transformative for the Midtown South market, similar to the impact of One Vanderbilt Avenue in Midtown East.
- 15-year lease signed with Franklin Templeton for 347,474 square feet.
- 55% of One Madison Avenue is now leased.
- One Madison Avenue's design includes health-centric features such as DOAS HVAC and large windows.
- None.
NEW YORK, Sept. 29, 2022 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that investment management firm Franklin Templeton has signed a 15-year, 347,474 square foot lease at One Madison Avenue. The company will occupy the entire 11th through 22nd floors in the tower portion of the building. This lease follows the recently announced 328,000 square foot lease with International Business Machines Corporation (“IBM”) and the 56,000 square foot lease with Chelsea Piers Fitness.
The neighborhood defining development, which is on schedule for completion in November 2023, is now
“We’re excited to welcome Franklin Templeton to One Madison Avenue,” said Marc Holliday, Chairman and CEO of SL Green. “This lease and the earlier IBM transaction are the second and third largest new leases signed in Manhattan in 2022 and are validation as to the exceptional quality of the building design. One Madison will transform the Midtown South market much in the same way that One Vanderbilt Avenue has transformed the Midtown East market.”
“Nearly every part of our global organization has a presence in New York City, and this lease agreement will bring our employees together into one state-of-the-art location that provides the ideal combination of dedicated space for our specialist investment managers, collaborative space for our broader firm, and an outstanding environment for hosting our clients,” said Jenny Johnson, President and CEO of Franklin Templeton. “We couldn’t be more excited to partner with SL Green on this landmark agreement for our firm.”
One Madison Avenue will combine the elegance of the existing limestone building together with more than 500,000 square feet of new, virtually column free construction. Health and wellness is paramount to the building design with the inclusion of DOAS HVAC, which circulates
Franklin Templeton was represented by Rob Lowe, Jeff Cushman and John Cushman of Cushman & Wakefield. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented the landlord.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan's largest office landlord, is a 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, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet. This included ownership interests in 26.3 million square feet of Manhattan buildings and 7.2 million square feet securing debt and preferred equity investments.
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FAQ
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