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July 17, 2006
Forest City Announces Leasing and Construction Milestones for New York Times Building
Daily Business News Cleveland
This is from the latest press release for Forest City Ratner's (a subsidiary of Forest City Enterprises) portion of the NY Times Tower, built in partnership with The NY Times Corporation:
Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:FCEB) today announced a third major tenant for the New York Times Building near Times Square in Manhattan, and the topping-out of the 52-story, 1.5-million-square-foot office tower. The final 40-foot, 2,000-pound beam was raised 746 feet above street level, atop the building's steel frame on the 52nd floor.
Osler, Hoskin & Harcourt LLP, one of Canada's leading business law firms, agreed to a 15-year lease to occupy 60,000 square feet on floors 36 and 37. This agreement is the Times building's third major lease signing in the last month. As a result, nearly one-half of the 700,000 square feet owned by Forest City Ratner Companies, the New York City affiliate of Forest City Enterprises, has been leased.
NoLandGrab: The three corporations to sign leases in the Times Tower are all law firms, who should breathe easier now that OVERDEVELOPERS have probably passed lawyers and politicians as the most despised professions.
Posted by lumi at July 17, 2006 7:54 AM