In addition to its 250 West 55th Street project that will aim for LEED Gold, Boston Properties is currently pursuing LEED for Existing Buildings ("LEED-EB") certification for two of its Manhattan office buildings – Times Square Tower (1 Times Square) and 599 Lexington Avenue (between East 52nd and 53rd Streets). Designed by architect Edward Larrabee Barnes, Boston Properties built the 47-story 599 Lexington back in 1986. Last week, the real estate investment bank Savills Granite (formerly Granite Partners) subleased 18,000 square feet on 599 Lexington’s 36th floor, requiring additional office space after a recent merger with London-based property manager Savills. The newly combined firm takes the space from law firm Kirkpatrick & Lockhart Preston Gates Ellis, which was represented by Studley in the negotiations. Newmark Knight Frank represented Savills Granite; no details on the asking rent, but Crain’s reports that those in the neighborhood hover around $71 per square foot.
Boston Properties has been quite active recently in local green building news. As a publicly-traded REIT that manages and administers its own buildings, it’s clear that the firm is recognizing operational advantages from implementing sustainable initiatives across its portfolio, as well as perhaps attracting high-end tenants drawn to potential cost savings that they might enjoy.
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Savills Granite Moved by Merger (Crain's)
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250 West 55th Street (gbNYC)
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