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NEW YORK CITY - W&H Properties' 2008 is off to a fast start. During the first quarter, the nine Pre-War Trophy office towers in the portfolio leased in excess of 200,000 square feet, reports Fred C. Posniak of W&H.
The bulk of the total, or 150,000 square feet, represented new leases signed at the properties, which include 112 West 34th Street, the Empire State Building, 501 Seventh Avenue, 3 Herald Square (1333 Broadway), The Herald Square Building (1350 Broadway), 1359 Broadway, 1400 Broadway, 60 East 42nd Street, and 250 West 57th Street. Renewals and expansions accounted for the balance.
New tenants that signed during the quarter included such prominent firms as Mandarin Oriental Management and Exhale Spa (250 West 57th Street); Northwest Airlines and Aeromexico (112 West 34th Street); Goldin Associates -- a financial advisory and turnaround consulting firm headed by former city comptroller Harrison J. Goldin (Empire State Building); Castle Hill Apparel and IFG Corporation (1400 Broadway); and Pearson PLC, the global media firm (The Herald Square Building at 1350 Broadway).
"We attribute much of this activity to our billion-dollar-plus program of capital improvements that is resulting in top-to-bottom transformations at each property," says Mr. Posniak. "It's clear that brokers and their clients are impressed with what we are accomplishing. They compare the buildings under renovation with the ones already renovated, and understand that W&H delivers on its promises."
For more information about W&H Properties, please visit www.whpropertiesny.com.
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