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News Oct 21, 2016

Shearman & Sterling Represents Major League Baseball in 15-Year Headquarters Lease at 1271 Avenue of the Americas

Sherman & Sterling advised the Office of the Commissioner of Baseball d/b/a Major League Baseball and MLB Advanced Media, L.P. (MLBAM) with respect to the leasing of 400,000 rentable square feet of office space at 1271 Avenue of the Americas in New York City, a building owned by the Rockefeller Group. The building will undergo a top-to-bottom renovation prior to the tenant’s occupancy.  The initial term of the lease is 15 years and the tenant has a variety of renewal and expansion options, including with respect to retail space in the building.

MLBAM is a technology company owned by the Major League Baseball clubs that distributes sports and entertainment content through all forms of interactive media.

The Shearman & Sterling team included associate Michael Virga (New York-Corporate); counsel Peter Strauss; and partner Chris Smith (both New York-Real Estate).