European Luxury Brand RITUALS Brings Beauty To Times Square South
NEW YORK CITY, October 19, 2015 – Empire State Realty Trust, Inc. (NYSE:ESRT) has announced that RITUALS Home & Body Cosmetics, the international beauty brand, will establish a retail outlet at 1333 Broadway in Herald Square. The property, owned by ESRT, also is home to Urban Outfitters’ largest U.S. store and Shake Shack (opening spring 2016).
The RITUALS store, comprising 902 square feet, is scheduled to open in early 2016, under a long-term lease.
“RITUALS is the first major international brand to move to Times Square South and signifies the retail transformation that is occurring there,” said Thomas P. Durels, Executive Vice President, Director of Leasing & Operations for ESRT. “Retailers are being attracted by the improved tenant mix in the area and the increased pedestrian flow along the Broadway Pedestrian Plaza that connects Times Square with Herald Square and retail demand from the growing office population.”
Founded in 2000 and headquartered in Amsterdam, RITUALS has over 350 stores worldwide and offers exclusive items including body and facial care to scented candles, clothing, perfumes, gemstone makeup and tea. In 2014, the firm was named WWD Beauty’s Specialty Retailer of the Year.
Christopher DeCrosta from Crown Retail Services represented RITUALS in the lease negotiations. ESRT was represented in-house by Fred C. Posniak, along with Andrew Goldberg and Matt Chmielecki of CBRE.
There is one more retail space available at 1333 Broadway. The asking rent for the space, which contains 1,835 square feet, is $450 per square foot.
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 office building. Headquartered in New York, New York, the Company's office and retail portfolio covers 10.0 million rentable square feet, as of June 30, 2015, consisting of 9.3 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 720,000 rentable square feet in the retail portfolio.
*Please note all lease square footages are approximate.
This press release includes “forward looking statements.” Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in (i) the Company's Annual Report on Form 10-K for the year ended December 31, 2014, including those set forth under the headings "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Business,” and “Properties" and (ii) in future periodic reports filed by the Company under the Securities and Exchange Act of 1934, as amended. While forward-looking statements reflect the Company's good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company's future results, performance or transactions, see the section entitled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2014, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).