NEW YORK, April 17 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