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 deal.
"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 construction, is located at 42nd Street between Broadway and Seventh Avenue. Construction is expected to be completed in fourth-quarter 2003.