Strong Leasing at Empire State Realty Trust Properties as 2013 Closes; Significant Transactions in Manhattan and Suburban Buildings
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, announces the signing of several significant leases.
Notable transactions include:
- Ipreo Holdings, LLC, a KKR-owned company that is a global leader of data, market intelligence and productivity solutions to capital markets and corporate professionals, renewed its 48,387 square feet lease on two full floors at 1359 Broadway. Joseph Genovesi and Joseph Messina of Studley represented Ipreo in the lease negotiations. William Cohen, Neil Rubin and Andrew Weisz of Newmark Grubb Knight Frank represented Empire State Realty Trust, along with Ryan Kass, senior vice president, director of leasing and marketing at Empire State Realty Trust.
- Hatch Mott MacDonald, an engineering consulting firm, leased an additional 3,346 square feet on the 16th floor at 1400 Broadway. This will increase their total occupancy at the building to 18,434 square feet. Scott Klau, Erik Harris and Neil Rubin of Newmark Grubb Knight Frank represented Empire State Realty Trust.*
Greater NY Metro
- Novitex Enterprise Solutions, Inc. (formerly Pitney Bowes Management Services), a technology enabled document management and communication services firm, leased 22,429 square feet at 300 First Stamford Place in Stamford, Connecticut. George Walker and Deborah Van Der Heyden of Jones Lang LaSalle represented Novitex in the lease negotiations. Empire State Realty Trust was represented in-house by Jeffrey H. Newman, senior vice president.
- CareCentrix, a leading provider of home health benefits management services to the health care industry, leased 10,691 square feet at 100 First Stamford Place. Fernando Murillo of DTZ represented CareCentrix in the lease negotiations. Empire State Realty Trust was represented in-house by Mr. Newman.
- Athleta, a Gap Inc. division that specializes in women’s performance gear, leased 4,304 square feet at 103-107 Main Street in Westport, Connecticut. The tenant was represented by Dominick Muselli of RHYS Commercial. Empire State Realty Trust was represented in-house by Fred C. Posniak, senior vice president, leasing and marketing.
- Starbucks leased 1,953 square feet in a retail condominium that occupies the base of The Gotham, a 25-story luxury residential condo at 1542 Third Avenue, between East 86th and 87th Streets in Manhattan. The tenant was represented by David Firestein of Shopping Center Group. Empire State Realty Trust was represented in-house by Fred C. Posniak, senior vice president, leasing and marketing.
- Simit + Smith, a Mediterranean bakery, leased 1,131 square feet on the ground floor of 1400 Broadway for a flagship Manhattan location, continuing a trend towards healthy food operators in the Times Square south area. The tenant was represented by Mary Goldsmith Mahoney of Great Circle Real Estate. Jared Lack of Newmark Grubb Knight Frank represented Empire State Realty Trust in the lease negotiations.*
“These transactions reflect a continuation of the positive deal flow that characterized 2013,” says Thomas P. Durels, the Company’s Chief of Property Operations and Leasing.
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.
* ESRT is the asset manager, but not the owner, of 1400 Broadway. It has an option to purchase this property.
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 the Company’s prospectus relating to the initial public offering, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Properties.” 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, of 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 prospectus relating to the initial public offering, 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).