Corem signs 15-year lease contract in New York

Corem has signed a lease contract with AC Hospitality for 353 sq.m. of the project property 28&7 in New York. The tenant, that will run a restaurant and sports bar at 28&7, will move in during the third quarter of 2024 and the lease term is 15 years.

28&7, a 12-story modern office building located at the corner of 7th Avenue and 28th Street in the Chelsea District, Manhattan, is Corem’s second largest ongoing project and is being developed in collaboration with GDS Development Management (GDSNY). The building is LEED Gold certified and offer office spaces with the latest technology in air quality and touchless systems. The façade is made up of elements in black glazed terracotta.

"We are very pleased to announce another lease at 28&7. It is particularly pleasing that this lease means that the entire retail space on the ground floor of the property is now leased. AC Hospitality will make an excellent contribution to the high level of service we want to offer our tenants in 28&7", said Rutger Arnhult, Corem's CEO.

The total annual contract value for all lease contracts Corem has signed so far in the USA amounts to around 14 million USD. With the signing of this lease, 34 per cent of the leasable area in 28&7 is now leased.

Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Rutger Arnhult, CEO, +46 70 458 24 70, rutger.arnhult@corem.se
Eva Landén, Deputy CEO, +46 10 482 76 50, eva.landen@corem.se

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.