Coty, Skanska, Ellen Tracy, Actimize...These are just some of the industry leaders that have recently signed leases at W&H buildings, proving once again that our commitment to the portfolio-wide $1.5-billion upgrade programs - including major space consolidation efforts - is 100% on target.

"When we launched the W&H Properties portfolio, our objective was to fulfill the huge potential of our Pre-War Trophy Towers by bringing in the top managing agents - CB Richard Ellis, Cushman & Wakefield and Newmark Knight Frank - and completing top-to-bottom renovations and upgrades to meet the standards of the most prestigious cutting-edge firms," says Anthony E. Malkin of W&H. "Clearly, we've achieved this objective. Our latest full-floor leases are with excellent companies that have great prospects to grow and renew in our Pre-War Trophy portfolio."

Coty Inc., which leased nearly 90,000 square feet at the Empire State Building, is the world's largest fragrance company. Founded in 1904, the firm has offices in more than 30 countries. Its brands, sold to consumers in 90 markets worldwide, include Adidas, Baby Phat, Calvin Klein, Cerruti, Chloe, Chopard, Davidoff, Jennifer Lopez, Jette Joop, Jil Sander, JOOP!, Karl Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by Gwen Stefani, Lancaster, Marc Jacobs, Nautica, Nikos, Phat Farm, Sarah Jessica Parker, Stetson, Vera Wang and Vivienne Westwood, among others.

Skanska, the international Fortune 500 construction giant, is another new tenant at the Empire State Building, where the firm leased the entire 32nd floor. Founded in 1887 and headquartered in Stockholm, Sweden, Skanska is one of the ten largest construction companies in the world, with 60,000 employees in Europe, the U.S. and Latin America.

Fashion giant Ellen Tracy is moving its headquarters to 1400 Broadway, where it will occupy the entire 32nd and 33rd floors. The firm, which was recently bought by Fashionology Group LLC from Liz Claiborne, Inc., will relocate from 1441 Broadway. According to Women's Wear Daily, Ellen Tracy does approximately $100 million in wholesale volume.

A few blocks south in the Penn Plaza District, international software company Actimize has leased the entire fifth floor at 1359 Broadway. A NICE Systems (NASDAQ:NICE) company founded in 1999, Actimize offers enterprise-wide software solutions for brokerage compliance, anti-money laundering, and fraud prevention. The firm is headquartered in New York and has offices in London, Paris, Tel Aviv and Tokyo. (Please see page 6 for an interview with Michael Beyda of Benchmark Properties, the broker who represented Actimize.)

"Firms of this caliber require business environments that are an extension of their image and which provide first-class settings to attract and retain top employee talent," notes Mr. Malkin. "Such environments include first-class lobbies, air-conditioned public corridors, state-of-the-art technology and building systems, and a wide range of on-site amenities.

"That said, even the most beautiful, modern environment is meaningless if it's not convenient to mass transportation and in an established neighborhood rich with services and shopping," he adds. "Fortunately, all W&H Properties are situated in the best business centers in midtown Manhattan - the Penn Plaza district, the Fashion district, Grand Central district and Time Warner South. We offer top-tier, productive work environments, in Pre-War Trophy buildings, in great locations, a combination that has clear appeal to top brokers and their clients. We're delighted that we are given a chance to compete in space searches, and know that our assets and the transaction experience and work environments we offer provide space solutions for top tenants and their workers."