September 08, 2010 03:30PM
11 Times Square
While SJP Properties scored a coup by signing its first lease at 11 Time Square three months ago, the developer is struggling to fill the rest of the building, which has 700,000 square feet of unleased space, according to Crain’s. SJP, which broke ground on the building three years ago, fought tooth and nail to nab its first tenant, law firm Proskauer Rose, which took 400,000 square feet. Now Doug Allen, the senior vice president of SJP, said his company is willing to be flexible on price to get other leases signed, noting that “there is no minimum square footage required for leases” at the building, where asking rents average around $83 per square foot. CB Richard Ellis is the brokerage for the building. [Crain’s]
Leave a Comment
(optional)
(optional)