Empire State Realty Trust Signs Sephora Opposite Macy’s on 34th Street
Empire State Realty Trust, Inc. (NYSE:ESRT) (“ESRT”) has signed an 11,334-square-foot retail lease with Sephora USA, LLC at 112 West 34th Street, directly opposite Macy’s flagship store, in excess of a year before the existing tenant Footlocker’s lease expires.
“Sephora is an international powerhouse with 1,900 locations worldwide, and recognizes the strength of this remarkable location on the dynamic 34th Street corridor between Fifth and Seventh Avenues,” said Thomas P. Durels, ESRT’s Executive Vice President, Director of Leasing and Operations. “We have more than 72,000 square feet of prime retail remaining to be leased by April 30th, 2016 at 112 West 34th Street, in the middle of the 34th Street shopping district that annually draws over 100 million pedestrians.”
Virginia Pitarelli of Crown Retail Services represented Sephora in the lease negotiations.
Landlord representation for the lease was provided by Thomas P. Durels and Fred C. Posniak of Empire State Realty Trust, along with Joanne Podell and Ian Lerner of Cushman & Wakefield.
Currently, ESRT has four retail spaces in the 34th Street corridor, offered for the first time in over four decades. At 112 West 34th Street, a ground-floor space of 13,243 square feet with 20-foot clear ceiling heights can be combined with the entire second floor of 28,651 square feet and full lower level of 30,296 square feet, each with 14-foot clear ceiling height. At the Empire State Building, three multi-level spaces of 8,600 square feet to 25,557 square feet are being marketed with possession spring 2016.
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 September 30, 2014, 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 731,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage.
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