SL Green Inks New Lease With UiPath At One Vanderbilt Avenue
SL Green Realty Corp. (NYSE: SLG) announced a significant leasing milestone, reaching over 91% occupancy at One Vanderbilt Avenue. Global software company UiPath has signed a 15-year lease for 26,363 square feet on the 60th floor. SL Green continues to enhance its portfolio with this prestigious tenant, joining other leading firms in the skyscraper, which offers state-of-the-art amenities and sustainability features. As of June 30, 2021, SL Green owned interests in 77 properties covering 35.3 million square feet in Manhattan.
- Over 91% leased status at One Vanderbilt Avenue enhances SL Green's portfolio value.
- Signing of UiPath strengthens tenant mix and attractiveness of the property.
- One Vanderbilt Avenue serves as a hub for leading firms, increasing its desirability.
- Risks associated with the ongoing COVID-19 pandemic may impact future occupancy rates and leasing activities.
Trophy Office Tower Now Over
NEW YORK, Sept. 30, 2021 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that global enterprise automation software company, UiPath (NYSE: PATH), has signed a 15-year, 26,363-square-foot lease at One Vanderbilt Avenue covering the entire 60th floor. The skyline-defining tower in the heart of East Midtown is now over
“We’re delighted to welcome UiPath to One Vanderbilt Avenue,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green. “They join a prestigious list of companies seeking a best-in-class, healthy work environment with direct connectivity to mass-transit.”
“One Vanderbilt Avenue is one of those rare buildings that is quickly becoming a New York City icon, and we could not be more excited and prouder about opening our global headquarters in the center of a growing, thriving technology community,” said UiPath Chief Financial Officer, Ashim Gupta. “UiPath continues to grow at a market-leading rate and we are confident that this new space will expand with us, providing a great place for our team to work and collaborate, and an immersive experience to host customers and partners as we deliver the future of work through automation.”
Major recent milestones for One Vanderbilt include the launch of ticket sales for its observation experience, SUMMIT One Vanderbilt, which opens on October 21, 2021, offering visitors a truly unmatched immersive experience at the highest vantage point in Midtown Manhattan. Earlier this year, SL Green celebrated the opening of world-renowned chef Daniel Boulud’s new restaurant, Le Pavillon, which occupies 11,000 square feet on the second floor, facing Grand Central Terminal.
Standing 1,401 feet tall, One Vanderbilt is the new headquarters for many of the world’s leading finance, technology, law and real estate firms. The 1.7 million-square-foot skyscraper offers an unparalleled combination of amenities, innovative office design, state-of-the-art technology, the highest level of sustainability and healthy workplace environment together with direct connection to Grand Central Terminal.
Dale Schlather together with John Boyle, Greg Herman, Justin Halpern, Ed Wartels and Jennifer Konefsky of Cushman & Wakefield represented UiPath. Robert Alexander, Ryan Alexander, Emily Chabrier and Alex D’Amario of CBRE 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, 2021, SL Green held interests in 77 buildings totaling 35.3 million square feet. This included ownership interests in 27.1 million square feet of Manhattan buildings and 7.4 million square feet securing debt and preferred equity investments.
Forward Looking Statement
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
SLG – LEAS
Matt DiLiberto
Chief Financial Officer
212.594.2700
FAQ
What recent leasing milestone did SL Green Realty Corp. achieve?
Which company signed a lease at One Vanderbilt Avenue?
How much space did UiPath lease at One Vanderbilt Avenue?
What is the significance of One Vanderbilt Avenue for SL Green Realty?
How many properties does SL Green Realty own?
