SL Green Realty Corp (NYSE:SLG) announced that Swatch, the multinational company active in the manufacture and sale of finished watches and jewelry, signed a 2, 113 square foot lease for a Times Square store on the ground floor of 1515 Broadway.
The company said that this transaction completes the lease-up of the retail space at the 54 story, 1.8 million square foot building located in the heart of Times Square at 45th Street. The Swatch lease follows the recently announced lease with Skechers USA for the adjacent space, which was executed in December, 2014.
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“We are thrilled that such a celebrated, global manufacturer of timepieces has decided to open a location at our building, ” said Brett Herschenfeld, Managing Director. “Demand from retailers for space in and around Times Square continues unabated.”
Haim Chera of Crown Realty represented Swatch in the transaction, while Jeffrey Roseman of Newmark Grubb Knight Frank acted on behalf of SL Green.
SL Green Realty Corp., New York City’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 December 31, 2014, SL Green held interests in 101 Manhattan buildings totaling 42.4 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 14.4 million square feet of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 36 suburban buildings totaling 5.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.
