CLEVELAND, June 15, 2011 /PRNewswire/ -- Forest City
Enterprises, Inc. (NYSE: FCEA and FCEB) today announced new or
renewal leases for six tenants totaling 570,500 square feet of
space at the company's MetroTech Center office campus in
Brooklyn, New York. Three
office tenants and two restaurants have committed to new or
expansion leases at Two MetroTech Center, and Morgan Stanley has
renewed for a substantial block of space at One Pierrepont Plaza.
MetroTech Center is a commercial, academic, and
high-technology office campus on a 10-block, 16acre site in
Downtown Brooklyn.
(Logo: http://photos.prnewswire.com/prnh/20080515/FRSTCTYLOGO
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"The interest of these tenants and their commitment to our
Brooklyn portfolio is confirmation
of the strength of the New York
office market and the quality of our MetroTech assets," said
David J. LaRue, Forest City
president and chief executive officer. "We thank these
tenants for choosing Brooklyn and
MetroTech, and I congratulate Bruce
Ratner and our New York
team on the relationships they have developed with these tenants
that led to the execution of these leases."
The office leases at Two MetroTech Center include:
- Polytechnic Institute of New York
University, which signed a 15-year lease for 90,000 square
feet of additional office space beyond what it already occupies at
MetroTech;
- The City of New York, which
signed a 20-year lease for an additional 155,000 square feet of
office and data center space for the City's Department of
Information Technology and Telecommunications (DOITT); and
- The General Services Administration, which signed a 10-year
lease for 120,000 square feet to house the Internal Revenue
Service.
In addition to these office tenants, two restaurants, Five Guys
Burgers and Fries and a new, locally owned and operated
French-American bistro and patisserie concept, have signed new
leases in Two MetroTech for a total of 5,500 square feet. The
eateries will serve office tenants, neighborhood residents and
visitors staying in nearby Downtown
Brooklyn hotels. Collectively, these leases at Two
MetroTech account for the entire space previously occupied by
SIAC/NYSE, and leave only the eighth floor vacant.
At One Pierrepont Plaza, Morgan Stanley has committed to a
10-year lease renewal for 200,000 square feet of space on the
building's second through fifth floors. The renewal takes effect
when Morgan Stanley's current lease for approximately 450,000
square feet expires in 2013.
About Forest City
Forest City Enterprises, Inc. is a NYSE-listed national real
estate company with $11.5 billion in
total assets. The Company is principally engaged in the ownership,
development, management and acquisition of commercial and
residential real estate and land throughout the United States. For more information,
visit www.forestcity.net.
SOURCE Forest City Enterprises, Inc.