NEW YORK–(BUSINESS WIRE)–Oct 23, 2018–Columbia Acreage Trust, Inc. (NYSE: CXP) appear today that it has active a 115,000-square-foot, abiding charter with WeWork, the aggregate appointment amplitude provider, for the absolute appointment allocation of 149 Madison Avenue, Columbia’s 12-story Midtown South building.
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WeWork has active a 115,000-square-foot, abiding charter with Columbia Acreage Trust for the absolute appointment allocation of 149 Madison Avenue in Manhattan and expects to accessible a new area in 2019, afterward the building’s redevelopment. (Photo: Business Wire)
The charter commenced October 18, 2018, and Columbia will coact with WeWork to transform 149 Madison into a bazaar appointment abode with avant-garde amenities and infrastructure. The redeveloped building, which is accepted to accessible in 2019, will additionally accommodate 6,600 aboveboard anxiety of prime retail amplitude on the arena floor, with arresting bend frontage on Madison Avenue and 32 nd Street. Columbia is already in discussions with several retailers for the space.
“With 149 Madison, we saw a different befalling to actualize a custom-designed, bazaar architecture that would accommodate a differentiated acquaintance for tenants,” said Nelson Mills, arch controlling administrator of Columbia. “WeWork shares our eyes for this appropriate building’s potential, and we attending advanced to alive with them to position 149 Madison as an ideal home for tenants gluttonous high-end artistic amplitude in Midtown South.”
Columbia owns six appointment backdrop in Midtown Manhattan that accommodate a absolute of 1.7 actor leasable aboveboard feet, additional one architecture beneath development. With this latest charter at 149 Madison, Columbia’s Manhattan portfolio is 98 percent leased.
About Columbia Acreage Trust
Columbia Acreage Trust (NYSE: CXP) creates amount through owning, operating and developing Class-A appointment barrio in high-barrier U.S. appointment markets, primarily New York, San Francisco, and Washington D.C. Columbia is acutely accomplished in transactions, asset administration and repositioning, leasing, and acreage management. It employs these competencies to abound amount beyond its high-quality, well-leased portfolio of 19 backdrop that accommodate nine actor rentable aboveboard feet, as able-bodied as one acreage beneath development. Columbia has investment-grade ratings from both Moody’s and Standard & Poor’s. For added information, amuse appointment www.columbia.reit.
Certain statements independent in this columnist absolution added than absolute facts may be advised advanced statements aural the acceptation of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend for all such advanced statements to be covered by the applicative safe anchorage accoutrement for advanced statements independent in those acts. Such statements include, in particular, statements about our redevelopment and leasing affairs and are accountable to assertive risks and uncertainties, including accepted and alien risks, which could account absolute after-effects to alter materially from those projected or anticipated.Therefore, such statements are not advised to be a agreement of our achievement in approaching periods. Such advanced statements can about be articular by our use of advanced analogue such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or added agnate words. Readers are cautioned not to abode disproportionate assurance on these advanced statements, which allege alone as of the date of this columnist release. We accomplish no representations or warranties (express or implied) about the accurateness of any such advanced statements independent in this columnist release, and we do not intend to about amend or alter any advanced statements, whether as a aftereffect of new information, approaching events, or otherwise.
Any such advanced statements are based on a cardinal of assumptions involving judgments with account to, amid added things, approaching economic, competitive, and bazaar conditions, all of which are difficult or absurd to adumbrate accurately. To the admeasurement that our assumptions alter from absolute conditions, our adeptness to accurately ahead after-effects bidding in such advanced statements, including our adeptness to accomplish absolute banknote breeze from operations, accomplish distributions to stockholders, and advance the amount of our absolute acreage properties, may be decidedly hindered. See Item 1A in the Company’s best afresh filed Annual Report on Form 10-K for the year concluded December 31, 2017, for a altercation of some of the risks and uncertainties that could account absolute after-effects to alter materially from those presented in our advanced statements. The accident factors declared in our Annual Report are not the alone ones we face, but do represent those risks and uncertainties that we accept are actual to us. Additional risks and uncertainties not currently accepted to us or that we currently account immaterial may additionally abuse our business.
View antecedent adaptation on businesswire.com:https://www.businesswire.com/news/home/20181023005310/en/
CONTACT: Columbia Acreage Trust, Inc.
Bud Perrone, 212-843-8068
Investor Relations Contact:
Matt Stover, 404-465-2227
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Columbia Acreage Trust, Inc.
Copyright Business Wire 2018.
PUB: 10/23/2018 10:00 AM/DISC: 10/23/2018 10:01 AM
Copyright Business Wire 2018.
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