Corem achieves full letting at 1245 Broadway in New York – and repays construction loan
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Corem has now signed lease contracts for all spaces in the project property at 1245 Broadway in New York. The property is therefore fully leased. The final floor, comprising approximately 770 square meters, has been leased to an existing tenant in the building, which thereby expands its premises to a total of 2,140 square meters under a new five-year lease.
The total annual contractual rental value for the property now amounts to approximately USD 20 million, and the occupancy rate stands at 100 percent.
In connection with the completion of the