City still the center of world's business

Real Estate Weekly, July 21, 2004

The decision by law firm Heller Ehrman White & McAuliffe LLP, to take 138,000 s/f of Time Square office space is further indication of the continued allure of New York City as the world's business center, according brokers invovled in the deal.

The international law firm committed to the space in Times Square Tower last week and plans to move in early 2005 with 165 attorneys.

The CB Richard Ellis team of Lewis Miller and Scott Gottlieb arranged the long-term lease on behalf of Heller Ehrman White & McAuliffe LLP.

CBRE's John Powers and Peter Turchin, who serve as exclusive leasing agents for the property, negotiated on behalf of the building ownership, Boston Properties.

"This deal is further indication of the continued allure of New York City to major tenants as the world's business center," said Mr. Miller.

"Heller Ehrman's decision to expand its presence in the city is also proof of a rebounding economy and the continued job growth in this sector."

Once completed, the law firm's new offices at the Times Square Tower will boast some of the most advanced technological enhancements available.

"The benefits offered by this newly constructed property, including column free space, high ceilings, floor-to-ceiling windows, floor size, configuration and floor-by-floor air conditioning units, makes the building ideally suited to accommodate law firms," continued Mr. Miller.

"In addition, the building was able to provide future expansion space to accommodate Heller Erhman's anticipated growth requirements."

Times Square Tower is a 47-story, 1.2-million-s/f office building designed by David Childs of Skidmore, Owings & Merrill, LLP and was developed by Boston Properties.

The property boasts uniform floor sizes and panoramic views from every direction.