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Brokerage
Posted: September 27, 2022
SL Green signs Franklin Templeton to a 347,000 s/f lease at One Madison Avenue
New York, NY According to SL Green Realty Corp. (NYSE: SLG) investment management firm Franklin Templeton has signed a 15-year, 347,474 s/f lease at One Madison Ave. The company will occupy the entire 11th through 22nd floors in the tower portion of the building.
The development, which is on schedule for completion in November 2023, is now 55% leased.
“We’re excited to welcome Franklin Templeton to One Madison Ave.,” said Marc Holliday, chairman and CEO of SL Green. “This lease and the earlier IBM transaction are the second and third largest new leases signed in Manhattan in 2022 and are validation as to the exceptional quality of the building design. One Madison will transform the Midtown South market much in the same way that One Vanderbilt Ave. has transformed the Midtown East market.”
“Nearly every part of our global organization has a presence in New York City, and this lease agreement will bring our employees together into one state-of-the-art location that provides the ideal combination of dedicated space for our specialist investment managers, collaborative space for our broader firm, and an outstanding environment for hosting our clients,” said Jenny Johnson, president and CEO of Franklin Templeton. “We couldn’t be more excited to partner with SL Green on this landmark agreement for our firm.”
Franklin Templeton was represented by Rob Lowe, Jeff Cushman and John Cushman of Cushman & Wakefield. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented the landlord.
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