Morgan Stanley signs big NY lease with Brookfield

NEW YORK, April 17 Tue Apr 17, 2012 4:22pm EDT

NEW YORK, April 17 (Reuters) - Brookfield Office Properties said on Tuesday it had nailed the largest office lease for a single building in New York City since 2008, signing a deal with Morgan Stanley for 1.15 million square feet (107,000 square meters) at One New York Plaza.

Brookfield and Morgan Stanley negotiated a new direct lease that calls for the investment bank to expand its presence by 337,000 square feet in the building at the southern tip of Manhattan near Battery Park.

Morgan Stanley currently subleases 782,000 square feet from Brookfield Office Properties' tenant Wells Fargo & Co and has a direct lease for 34,000 square feet with Brookfield at the 2.6-million-square-foot building.

The new lease will expire in 2029, according to Brookfield, which declined to disclose the rent terms.

With the new lease, One New York Plaza will be 85 percent occupied.

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