NEW YORK – Hines, the international real estate firm, announced that the Simpson Thacher & Bartlett law firm renewed its lease for 595,000 sf at 425 Lexington in Midtown Manhattan. Encompassing 26 floors of the 31-story building, the lease will be reset to expire in 2033. The lease extension will become effective subject to typical lender consent or upon completion of the sale and payment of the mortgage, which is due in August 2013.
Lewis Miller, Ken Rapp and Ramneek Rikhy of CBRE represented Simpson Thacher in lease negotiations, while Hines represented the owner, its Hines U.S. Core Office Fund.