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Deals & Dealmakers

Xerox signs 26,714 s/f lease at 485 Lexington

SL Green Realty Corp has leased a total of 26,714 s/f of office space to Xerox ,the Connecticut-based global, technology business services provider, and its related company, Conduent.

Xerox is relocating from a sublease at 485 Lexington onto a portion of the 25th floor in the same building.

Photo via SL Green's website
Photo via SL Green’s website

Conduent will occupy the balance of the same 14,207 s/f floor. The term for the lease is five-plus years.

Conduent has also leased a portion of the 22nd floor at 420 Lexington covering 12,507 s/f for a term of 10-plus years.

“We are delighted to be able to accommodate Xerox’s and Conduent’s growth,” said Steven Durels, executive vice president for SL Green, who added that “our portfolio of Grand Central buildings provides unmatched flexibility to accommodate our tenant space needs.ˮ

Robert Stillman and Conor Denihan of CBRE represented Xerox in the transaction, while David Kaufman negotiated in-house on behalf of SL Green.

At 31-stories and 1.5 million square feet, 420 Lexington, aka The Graybar Building, provides direct access to Grand Central Terminal and is home to New York Life Insurance, Metro North Commuter Railroad and SL Green, among others.  .

485 Lexington is equally close to Grand Central Terminal and is tenanted by Travelers, Novantas, KPS Capital Partnership and Leading Hotels of the World.

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