Microsoft Inks NYC Office Lease With SJP Properties

Law360, New York (January 7, 2013, 4:45 PM EST) -- Software giant Microsoft Corp. has inked a long-term lease to take up residence in SJP Properties new New York City-based 11 Time Square property, which is owned jointly by SJP Properties and investors advised by Prudential Real Estate Investors, SJP Properties announced Monday.

Per the deal, Microsoft will take over more than 200,000 square feet via a 16-year lease agreement, Christa Segalini, a spokeswoman for SJP Properties told Law360. The deal brings the occupancy rate for the 40-story tower to 70 percent and gives Microsoft a...
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