Simon Property Group Re-Ups At 747 3rd Ave. NEW YORK, Nov. 8 /PRNewswire/ -- SageGroupAssociates, a division of Sage Realty Corporation, announced today that the nation's leading shopping mall owner Simon Property Group, Inc., signed a 4-year lease renewal at 747 Third Avenue. Simon Property Group, one of the largest publicly traded real estate companies in the U.S., extended their lease for the entire 21st floor at 747 Third Avenue, which totals 8,780 square-feet. "The landlord is thrilled to have our long-time tenant Simon Property Group extend their lease with us. It is indeed an honor to continue to have such a well-known retail developer and property owner on our roster of prominent tenants," said Sage Managing Director Michael Lenchner, who along with Managing Director Greg Gang negotiated the lease. "747 Third Avenue has proven over the past four years to be an ideal location for our Manhattan base of operations, essentially satisfying all of our needs in regard to convenience, accessibility, workplace amenities and proximity to many of our key clients," said Bruce Tobin, Executive Vice President and COO of Leasing at Simon Property Group. Built in 1972, and designed by premier New York City architect Emery Roth and Pamela Waters, 747 Third Avenue is a 38-floor, 400,000-square foot nautical themed building with a unique front porch. The building occupies the entire east side of Third Avenue between 46th and 47th Streets. SageGroupAssociates is the leasing agent for the building's owner, the William Kaufman Organization, and 747 Third Avenue is representative of the William Kaufman Organization's long-time reputation for state-of-the-art, amenity rich buildings, complimented by the organization's hands-on management. The William Kaufman Organization is one of the nation's most renown family-owned real estate development concern with approximately three million square feet of "Class A" commercial real estate in New York City. 747 Third Avenue has individual air conditioning units in each room of each perimeter office suite to cater to tenants who work extended hours or those more attuned to international time zones, and like all William Kaufman Organization buildings, it has on-site managers to quickly respond to tenant issues. Among the other tenants at 747 Third Avenue are: Grey Global Group, BBC Worldwide and ITN Networks, and Yomiuri News. Simon Property Group, Inc., an S&P 500 company headquartered in Indianapolis, Indiana, is a real estate investment trust engaged in the ownership, development and management of retail real estate, primarily regional malls, Premium Outlet Centers(R) and community/lifestyle centers. The Company's current total market capitalization is approximately $46 billion. Through its subsidiary partnership, it currently owns or has an interest in 284 properties in the United States containing an aggregate of approximately 200 million square feet of gross leasable area in 38 states plus Puerto Rico. Simon also owns interests in 52 European shopping centers in France, Italy, and Poland; 5 Premium Outlet Centers in Japan; and one Premium Outlet Center in Mexico. Additional Simon Property Group information is available at http://www.simon.com/. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. William Kaufman Organization, Ltd., was founded by William Kaufman in 1924, and today under Melvyn and Robert Kaufman, is an innovative force among commercial office tower developers, with 3 million rentable square feet of "Class A" office space in NYC under ownership, including six major office towers and three midtown townhouses. The U.K. portfolio consists of 23 properties: 15 in England, 4 in Wales, and 4 in Scotland. In 1938, Sage Realty Corporation (http://www.sagerealty.com/) was established as the William Kaufman Organization's property management division and has become one of the most respected names in Manhattan real estate. Sage manages its buildings as assets, directing its resources to providing the industry's most comprehensive package of building occupant services. SageGroupAssociates (http://www.sagegroupassociates.com/), a division of Sage Realty, is a commercial real estate brokerage company founded in 1989 to maintain nearly 100% occupancy in William Kaufman Organization properties in Manhattan, as well as to selectively represent tenants and assist them in creatively meeting their real estate needs throughout New York City. DATASOURCE: Sage Realty Corporation CONTACT: Brian Krapf, George Arzt Communications, Inc., +1-212-608-0333, Web site: http://www.sagerealty.com/ http://www.sagegroupassociates.com/ http://www.simon.com/

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