Chicago-based Arthur Andersen LLP has finalized an agreement with building owner Boston Properties Inc. to terminate its lease of 650,000 sq. ft. in Times Square Tower. Enron-related problems are blamed for the beleaguered accounting firm’s withdrawal from the reported 20-year.
"We continue to actively market space in the building and are encouraged by the level of interest," Boston Properties said in a statement.
The 1.2 million sq. ft. Times Square Tower, which is currently under, is located at 42nd Street between Broadway and Seventh Avenue. Construction is expected to be completed in fourth-quarter 2003.