From left: 11 Times Square, 9 West 57th Street and 1333 Broadway (building credit: PropertyShark)

While global economic concerns have landlords of vacant U.S. retail spaces scrambling for any tenant, in Manhattan, landlords are patiently awaiting the perfect tenant for their trophy spaces, the Wall Street Journal reported.

For example, it’s not for lack of interest that the 55,000-square-foot retail space in SJP Properties’ 11 Times Square, at 42nd Street and Eighth Avenue, has sat vacant for two years. Rather the developer wants to land a big-name and raise the profile of the one million-square-foot tower. … [more]

Another law firm has signed on to join Proskauer Rose at 11 Times Square, becoming the second tenant at the brand new, 40-story tower by SJP Properties and Prudential Real Estate Investors. According to Bloomberg News, Zukerman Gore Brandeis & Crossman will take 17,144 square feet at the $1.2 billion skyscraper, where Proskauer signed a 406,400-square-foot anchor tenant lease a year ago. The firm will pay “very close” to the asking rent of $72 per square foot for its 15th-floor space, said CB Richard Ellis’ Peter Turchin, who represents the landlords. … [more]

Law firm Morrison Foerster has signed a letter of intent to become the anchor tenant at Boston Properties’ new 250 West 55th Street tower, the Post reported. The firm is said to be taking upwards of 200,000 of the 843,564 square feet at the building, in a move that one source said finally renders it “a viable project.” Construction on the 40-story, Skidmore Owings & Merrill-designed property stalled in 2009 when the economy sank, causing it to lose prospective tenants like Proskauer Rose, which had been in negotiations to lease 400,000 square feet there before opting instead for 11 Times Square…. [more]

From left: Robert Futterman, Jay Cross, Larry Silverstein, Stephen Siegel, Ronald Sernau, Laurie Golub and Steven Pozycki

Amid much back-slapping and cheerleading about the growth of Manhattan’s West Side at a panel yesterday that included developer Larry Silverstein, there was a hint that change could be afoot for the East Side of Midtown in the years to come. The millions of square feet of new office development being planned and built on the West Side in projects such as SJP Properties’ 11 Times Square and Related Companies’ Hudson Yards could lead owners of older Midtown office buildings — many of which are on the East Side — to convert them into residential apartments, following a pattern seen Downtown…. [more]

New York City doesn’t have enough big chunks of office space to go around for all of the major tenants who are looking. According to Crain’s, there are 24 tenants currently on the hunt for at least 250,000 square feet in New York City and only 29 available blocks that fit the bill. But Cushman & Wakefield data shows that only 12 of those spaces are in the coveted Midtown area, and brokers say the crunch is shifting the office leasing market in landlords’ favor. At 120 Park Avenue, Wells Fargo was recently bumped despite a letter of intent to lease 280,000 square feet because Bloomberg LP swooped in to snag that space — plus an additional 120,000 square feet. … [more]

Accounting giant Deloitte has signed an 18-year lease for 12 floors with a total of around 430,000 square feet at 30 Rockefeller Center, according to the Observer. The deal — the largest of 2011 so far and only slightly smaller than the largest office lease of 2010 — brings a likely end to more than a year of intense speculation about the firm’s real estate search, which was headed by Cushman & Wakefield’s John Cefaly and Dale Schlather and included high-profile buildings like 11 Times Square, 4 World Trade Center and 4 World Financial Center. … [more]

The developer of the half-empty, 1.1 million-square-foot office tower at 11 Times Square has not signed a large lease since the law firm Proskauer Rose struck a deal last May, but it has found a few smaller tenants.

There are “a couple pre-builts with leases” pending, Stephen Siegel, chairman of global brokerage at CB Richard Ellis, said, referring to finished office space constructed by developers to attract companies. He did not identify the companies that took space.

Siegel and Steven Pozycki, CEO of 11 Times Square developer SJP Properties, were on hand last night for the ribbon-cutting led by Mayor Michael Bloomberg for Proskauer Rose opening its new office. Siegel made his comments in a private interview with The Real Deal…. [more]

Eleven Times Square, the recently completed 1.1-million-square-foot office and retail tower in Midtown, has been granted LEED Gold certification from the U.S. Green Building Council, developer SJP Properties announced today. The building, located at the intersection of Eighth Avenue and 42nd Street, incorporates the latest green technology in its design, including an advanced air filtration and ventilation system, as well as a glass curtain wall exterior that reduces heat gain and allows in natural light. “Our original vision for 11 Times Square was to create a commercial building that would effectively raise the bar for sustainable construction and design…” said Steven Pozycki, CEO of SJP Properties. TRD… [more]

The Real Deal columnist Michael Stoler sat down with the major players behind 11 Times Square, the glassy new building by SJP Properties, for a recent installment of “The Stoler Report.” Developer Steven Pozycki was on hand to discuss his plans for the property, which earlier this year scored its first major tenant — law firm Proskauer Rose — in one of the largest relocation deals of 2010. Since then, leasing “activity has been terrific,” Pozycki said. Ronald Sernau of Proskauer, which took 400,000 square feet at the 1.1 million-square-foot tower, called it “an awesome, breathtaking building,” adding that the firm would be moved-in by Jan. 15. To watch the entire show go to www.stolerreport.com.

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1 World Trade Center, Robert Futterman

Robert Futterman, founder and chief executive of the Robert K. Futterman & Associates retail brokerage, has gone full speed ahead on his new advisory role for the World Trade Center project, according to the New York Times. Futterman said his firm is helping the Port Authority of New York & New Jersey determine what kind of retail mix would work best for the site. So far, no retailers have committed, and Futterman said he’s still exploring options with the Port Authority. “We’re working under confidentiality in terms of names,” Futterman said. “But you can imagine, if it’s a half-a-million-square-foot regional shopping center, it’s all the household names. You’ll probably have something hipper than any shopping mall.” Also on Futterman’s plate: the vacant retail space at 11 Times Square. [NYT]

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