Media General, Inc. (NYSE: MEG) has leased the entire 62nd floor, comprising 26,782 square feet, at the Empire State Building, to centralize its six digital media companies and national sales headquarters into one location, announced landlord Empire State Realty Trust, Inc. (NYSE:ESRT) (“ESRT”), and Douglas Elliman Real Estate, which represented Media General in the transaction.
Media General is one of the nation’s largest multimedia companies, and has the industry’s largest and most diverse digital media business. One of Media General’s companies is currently based at ESRT’s One Grand Central Place.
“We are very pleased that our good relationship with an existing tenant gave us the opportunity to accommodate Media General’s growth into a full floor at the Empire State Building,” said Thomas P. Durels, Executive Vice President, and Director of Leasing and Operations for ESRT.
Headquartered in Richmond, Virginia, Media General operates or services 71 television stations in 48 U.S. markets and the industry’s leading digital media business, reaching 23% of U.S. TV households and 43% of the U.S. Internet audience.
Media General joins other high-profile tenants at the Empire State Building, including Coty, Skanska, BrightRoll, Bulova, LinkedIn and Shutterstock.
Landlord representation was provided by Fred C. Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank. James Gross and Peter Gross of Douglas Elliman Commercial represented Media General.
About Douglas Elliman Commercial
Douglas Elliman Commercial provides a full suite of integrated real estate services that are tailored to deliver quantifiable value to clients ranging from investors, owners, and developers, to tenants across a range of industries. Led by seasoned industry veterans, supported by a highly skilled multidisciplinary team, Douglas Elliman Commercial is powered by one of the nation’s largest real estate services firms expanding within a network of more than 5,000 agents in over 75 offices throughout Manhattan, Brooklyn, Queens, Long Island, Westchester and Putnam Counties, as well as South Florida, Southern Connecticut, Aspen and California.
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.
Forward-Looking Statements
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 Annual Report on Form 10-K for the year ended December 31, 2013, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “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, or 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 Company’s Annual Report on Form 10-K for the year ended December 31, 2013, 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).
