| NEW YORK-- Boston Properties, Inc., a real estate investment trust, and Ann Taylor Stores Corporation, a premier retailer, announced that they have executed a lease for Ann Taylor to relocate its headquarters to Times Square Tower on 42nd Street between Broadway and Seventh Avenue.
The firm will occupy approximately 300,000 square feet on the 4th through 15th floors of the 47-story, 1.2 million square foot office building. Ann Taylor will be joining O'Melveny & Myers, Heller Ehrman White & McAuliff, Manatt Phelps & Phillips, Clarendon National Insurance, Pitney Hardin Kipp & Szuch, Condon & Forsyth, and a number of smaller firms. Ann Taylor expects to move into its new home during the spring of 2005.
Robert Selsam, Senior Vice President and Manager of the New York region of Boston Properties, said "We are delighted to welcome Ann Taylor as the largest tenant at Times Square Tower. Their choice of this building further solidifies Times Square as the business location of choice for firms wanting to be at the forefront of their industry."
"Times Square Tower offers Ann Taylor an excellent platform to continue to grow our business; providing us with efficient and creative workspaces," stated Ann Taylor's Chairman and Chief Executive Officer, J. Patrick Spainhour.
Ann Taylor was represented in this transaction by David Goldstein, Executive Managing Director, Mitchell Steir, Chairman and CEO, and Matthew Barlow, Executive Vice President of Studley. Boston Properties was represented by John Powers, President, Tri-State Region, Peter Turchin, and Timothy Gibson of CB Richard Ellis.
Times Square Tower was designed by world-renowned architect David M. Childs of the firm Skidmore, Owings and Merrill, LLP and is the second project of Boston Properties in Times Square. The first, directly across Seventh Avenue from Times Square Tower, is "5 Times Square", a 37-story, 1.1 million square foot office building which opened in May 2002 and is 100% leased to the professional services firm, Ernst & Young.
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