Empire State Realty Trust Sees Impressive Growth From Tenant Expansions
Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that since 2013 through December 31, 2018, ESRT had 163 tenant expansions totaling over 1.1 million square feet within its portfolio. In 2018, ESRT signed 25 lease expansions within its Manhattan office portfolio for a total of 244,792 square feet.
“Our message to our tenants is: let us focus on giving you an environment in which your employees are happy and productive so that you can focus on running your business more profitably,” said Thomas P. Durels, Executive Vice President, Real Estate for ESRT. “Everything we do at ESRT, from our redevelopment programs to amenities and services, is focused on providing an exceptional tenant experience.”
Some recent expansions that were completed from October through December of 2018 at the following properties are:
111 West 33rd Street with landlord representation led by Keith Cody of ESRT, along with Scott Klau, Erik S. Harris, and Neil L. Rubin of Newmark Knight Frank:
- Gibbs & Soell Business Communications, a strategic public relations, and marketing communications firm, expanded by 6,561 sq. ft. and relocated from One Grand Central Place into a full-floor lease for 19,285 sq. ft. on the 22nd floor. Tenant Brokers: Erik Schmall & Scott Weiss of Savills Studley.
One Grand Central Place with landlord representation by Julie M. Christiano and Leslie Nadel of ESRT, along with William G. Cohen, Brittany Silver, and Jamie Jacobs of Newmark Knight Frank:
- Allianz Real Estate of America, LLC, the investment and asset manager for the Allianz Group, signed an expansion lease of 3,222 sq. ft. for a full floor of 12,722 sq. ft. on the 42nd floor. Tenant Brokers: Greg B. Taubin and Jason Perla of Savills Studley and Newmark Knight Frank.
Empire State Building with landlord representation provided by Shanae Ursini of ESRT, along with Paul Glickman, Jonathan Fanuzzi, Simon Landmann, Harley Dalton, and Kip Orban of JLL:
- Kaplan Hecker and Fink LLP, a rapidly growing law firm led by founding partner Robbie Kaplan signed a full floor lease for 26,997 sq. ft. on the 63rd floor of the Empire State, expanding and relocating from a 6,091 sq. ft. suite on the 71st floor. Tenant Brokers: Ira Schuman and Stephen Steiner, Savills Studley.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the “World's Most Famous Building.” Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1 million rentable square feet, as of December 31, 2018, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio.
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