Empire State Realty Trust Expands Three of its Largest Tenants by 47,000 Sq. Ft.
NEW YORK CITY, January 30, 2018 – Empire State Realty Trust (NYSE: ESRT) has announced three tenant expansions within its Manhattan portfolio:
• PVH Corp. (PVH) expanded by 21,500 sq. ft. on the 3rd and 5th floors at 501 Seventh Avenue to a total overall square footage of 243,200 sq. ft.
• Gerson Lehrman Group, Inc. (GLG) expanded by 13,000 sq. ft. on the 4th floor at One Grand Central Place to a total overall square footage of 77,400 sq. ft.
• Global Brands Group (GBG USA Inc.) expanded by 12,400 sq. ft. on the 60th floor at the Empire State Building and now leases 701,000 sq. ft. across the ESRT portfolio.
“With the expansion of PVH, GLG and GBG, 131 tenant expansions now total 890,800 sq. ft. within the ESRT portfolio since our IPO in 2013,” said Thomas P. Durels, Executive Vice President and Director of Leasing and Operations for ESRT. “This is a strong affirmation of ESRT’s commitment to tenant service and our portfolio that has been fully modernized for the 21st century.”
PVH is one of the largest apparel companies in the world. GLG is the world’s biggest membership network for one-on-one professional learning. GBG is one of the world’s leading fashion companies.
Matthew Astrachan, Mitch Konsker and Steven Bauer of JLL represented PVH in the lease amendment negotiations, and landlord representation was provided by Keith Cody and Lindsay Godard of ESRT. Mitchell Konsker, Alex Chudnoff and Ben Bass of JLL represented GBG in the lease amendment negotiations, and landlord representation was provided by Shanae Ursini of ESRT.
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 September 30, 2017, 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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