Empire State Realty Trust Signs Two New Leases And Five Renewals at Greater NY Area Properties
Empire State Realty Trust, Inc. (NYSE:ESRT) (“ESRT”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, has recently concluded seven lease transactions at three of its suburban properties.
The transactions include:
- A new lease with energy consulting firm NuEnergen, LLC, which relocated its 3,435-square-foot headquarters to Ten Bank Street in White Plains, N.Y. The tenant broker was Richard Goldstein of Goldstein & Associates.
- Another new lease at Ten Bank Street, by Kumon North America. The lease term for the 1,445-square-foot space is five years. CBRE represented Kumon in the lease negotiations.
- A renewal by investment management firm Rabar Market Research, Inc. for its 4,147-square-foot space at Ten Bank Street. Michael McCall of CBRE represented Rabar in the negotiations.
- A renewal at 500 Mamaroneck Avenue in Harrison, N.Y., by Case Paper, for its 4,718-square-foot space. The firm, which is one of the largest privately owned paper merchants and converters in the U.S., signed a ten-year extension of its lease. Craig S. Ruoff of Rakow Commercial Realty Group, Inc. served as the tenant broker. This is the firm’s second renewal since it moved into the building.
- Renewals, also at 500 Mamaroneck Avenue, by CoKinetic Systems, a globally recognized leader in in-flight entertainment software, for its 4,668-square-foot headquarters space; and by C.H.O. Enterprises, a financial services firm, for its 1,538-square-foot office.
- A renewal by Bell Falla and Associates, LLC, a market research and consulting firm, at MerrittView (383 Main Avenue) in Norwalk, CT. This is the firm’s second renewal of its 2,325-square-foot space since it moved into the building in 2008. The firm’s broker was Barbara Segalini-Stilley of CBRE.
“We’re equally pleased by new leases and renewals,” says Jeffrey H. Newman, senior vice president of Empire State Realty Trust and its affiliates, who represented the landlord in the seven transactions, along with senior leasing associate Kimberly Zaccagnino and leasing associate Tara Long. “New leases tell us that our message regarding the advantages of locating at our trophy properties continues to resonate with brokers and their clients. Renewals tell us that we’re delivering on our promises.”
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 8.4 million rentable square feet, as of September 30, 2013, consisting of 7.8 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 645,000 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 and has an option to acquire two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.
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