Boston Properties near signing new tenant for 8th Ave NY tower

NEW YORK Tue Aug 7, 2012 4:58pm EDT

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NEW YORK (Reuters) - Boston Properties Inc (BXP.N) is negotiating a lease with a law firm to lease 266,000 square feet of space at a skyscraper under construction in Midtown Manhattan, the office landlord said on Tuesday.

Although Boston Properties declined to identify the perspective tenant, two sources have identified the law firm as Kaye Scholer LLP, currently located at 425 Park Ave.

A spokesperson for the law firm did not respond immediately to inquiries.

Morrison & Foerster LLP earlier signed on to be the anchor tenant of the planned 1 million square-foot building, at Eighth Avenue and 55th Street in Manhattan.

Morrison & Foerster also exercised a right to take an additional 24,000 square feet on top of 180,000 square feet, Doug Linde, Boston Properties president, said in a conference call with analysts.

With the addition of the new tenant, the 39-story building, which is scheduled to be completed in the spring of 2014, would be just under 48 percent leased, Linde said.

"We are cautiously optimistic that things are going to move in the right direction," he said.

(Reporting By Ilaina Jonas; Editing by Steve Orlofsky)

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