Two Prominent Foundations Join Tenant Roster at ESRT’s One Grand Central Place
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 signed two prestigious foundations to the tenant roster of One Grand Central Place (60 East 42nd Street): Robertson Foundation and Wexner Foundation.
Robertson Foundation is a private grant foundation established by Tiger Management founder Julian H. Robertson Jr., his wife Josie, and their family in 1996. It will occupy the entire 12,700-square-foot 39th floor, which offers spectacular north, west and south cityscape views.
The Wexner Foundation, which focuses on the development of Jewish professional and volunteer leaders in North America and public leaders in Israel, leased 3,136 square feet. Leslie Wexner, the founder of Limited Brands, established the foundation in the 1980s.
These organizations join a growing roster of prominent tenants, including Allianz, 3i Debt Management, Balfour Beatty, Gerson Lehrman Group, and Pine Brook Partners.
“We are thrilled to welcome Robertson Foundation and Wexner Foundation to One Grand Central Place,” said Thomas P. Durels, ESRT’s Chief of Property Operations and Leasing.
The property’s on-site amenities include a visitor center, a tenant-only conference center, two dining options, banking, and convenient in-building access to Grand Central Terminal.
Barbara Winter, Cynthia Wasserberger, Martin Horner and Reid Longley of JLL represented Robertson Foundation in the lease negotiations. Dale Schlather and Tyler McNeil of Cushman & Wakefield represented The Wexner Foundation.
Other recent leases at the property include:
- Great American Insurance Company leased 3,162 square feet. Tenant brokers: Martin Horner and Reid Longley of JLL.
- Auriga Capital Management leased 2,688 square feet. Tenant broker: Ruth Colp-Haber of Wharton Property Advisors.
- Mutual of Omaha leased 2,226 square feet. Tenant brokers: Howard Kaplowitz and David Ervolina of Colliers International.
Landlord representation for the five leases was provided by Ryan Kass and Fred Posniak of Empire State Realty Trust, along with William Cohen, Jonathan Tootell, and Julie Christiano of Newmark Grubb Knight Frank.
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 March 31, 2014, consisting of 7.7 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 624,000 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 recently exercised its options to acquire the ground lease of 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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