NEW YORK (July 28, 2022) – Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Burlington Stores, Inc. signed a full-floor expansion lease for an additional 34,591 square feet of office space formerly under lease to Uber. With this expansion, Burlington will occupy 102,898 square feet across three full floors at 1400 Broadway.
“We value our long-standing relationship with ESRT and are pleased to continue to expand our footprint at 1400 Broadway in New York City,” stated Gayle Aertker, EVP store development, Burlington Stores. “As Burlington continues to grow, we appreciate ESRT’s partnership.”
Located along the Broadway Pedestrian Plaza, 1400 Broadway provides convenient access to nearby transportation, dining, lodging, and entertainment. Tenants benefit from ESRT’s leadership in energy efficiency and premier indoor environmental quality – which includes MERV 13 filters and active bi-polar ionization – as well as a tenants-only lounge and a new town hall assembly space to be delivered late 2022.
“ESRT provides exceptional value in healthy, modernized, energy-efficient spaces which retain high-quality tenants like Burlington,” said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust. “We continue to benefit from the market’s flight to quality with our premier amenity-rich portfolio.”
Alan Desino of Colliers International represented Burlington in the lease negotiations. Scott Klau, Neil Rubin, and Erik Harris represented the property owner.
More information about 1400 Broadway can be found online.
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About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World’s Most Famous Building, and Tripadvisor’s 2022 Travelers’ Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory. The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City. As of June 30, 2022, ESRT’s portfolio is comprised of approximately 9.2 million rentable square feet of office space, 700,000 rentable square feet of retail space and 625 residential units across two multifamily properties. More information about Empire State Realty Trust can be found atesrtreit.com and by following ESRT on Facebook, Instagram, Twitter and LinkedIn.
This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of words such as “assumes,” “believes,” “estimates,” “expects,” “intends,” “plans,” “projects” or the negative of these words or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond ESRT’s control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, the current public health crisis and economic disruption from the COVID-19 pandemic, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in ESRT’s and ESROP’s filings with the SEC, including those set forth in each of ESRT’s and ESROP’s Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Risk Factors.” Except as may be required by law, ESRT and ESROP do not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Empire State Realty Trust
Source: Empire State Realty Trust