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News release

NEW YORK, NY

JLL Secures 30,365-SF Renewal for Haworth at 125 Park Avenue in New York

Global furniture designer, manufacturer signs 10-year lease renewal to remain on 2nd floor of 572,705-SF office building


NEW YORK, July 14, 2015 — JLL has completed a new transaction for Haworth Inc. at 125 Park Avenue with building owner SL Green Realty Corp. The global designer and manufacturer of furniture, interior architecture and technology solutions signed a 10-year lease renewal for 30,365 square feet at the Class A, 572,705-square-foot office building.

Haworth was represented by Jim Wenk, managing director, and Paul Formichelli, senior vice president, with JLL. Building owner SL Green was represented in-house by Brett Herschenfeld, managing director, and Cryder Bancroft, leasing associate.

“Haworth’s lease was set to expire and company executives preferred to remain at 125 Park Avenue,” said Wenk. “Although we explored other options for the company, SL Green was very accommodating with the different concepts Haworth was considering for its space. The building owner’s flexibility was key to Haworth ultimately remaining in the same envelope of space.”
“The need for unique and inspiring spaces are critical for businesses to attract and retain great talent,” said Aret Lerian, regional vice president, with Haworth. “SL Green worked closely with us to ensure our needs were met and that we were happy to continue our growth here.”

Haworth signed a 10-year lease renewal for 30,365 square feet and will continue to occupy the entire second floor at 125 Park Avenue, which is located between East 41st and East 42nd Street, directly across from Grand Central Terminal.

The 30-story 125 Park Avenue, also known as the Pershing Square Building, was designed by Sloan & Robertson and York & Sawyer, with construction completed in 1923. Known for the Romanesque Revival style of its exterior, 125 Park offers a contemporary lobby, sweeping arches, fully modernized building systems and stunning views of Grand Central Terminal.

The office building was renovated in 2008, with the effort including a new lobby and entrance, new bathrooms and messenger center, along with new elevator mechanical systems, windows and winterized cooling towers.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,000 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2014, the New York tri-state team completed approximately 22.8 million square feet of lease transactions, arranged investment sales transactions valued at more than $5.4 billion, managed projects valued at $7.6 billion, and oversaw a property management, facilities management and agency leasing portfolio exceeding 163 million square feet.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.