Burlington Stores, Inc. Expands by 34,591 Square Feet to Occupy a Total of 102,898 Square Feet at 1400 Broadway
Empire State Realty Trust, Inc. (NYSE: ESRT) announced that Burlington Stores, Inc. has signed a lease for an additional 34,591 square feet at 1400 Broadway, expanding its total occupancy to 102,898 square feet. This expansion underscores a strong partnership between ESRT and Burlington, which values the property's accessibility and energy efficiency features. ESRT's portfolio includes approximately 9.2 million rentable square feet of office space, with a focus on healthy, energy-efficient buildings. The announcement reflects continued tenant demand in New York's competitive real estate market.
- Burlington Stores expanded lease by 34,591 square feet, indicating strong demand and tenant satisfaction.
- Empire State Realty Trust's portfolio consists of approximately 9.2 million rentable square feet of office space, showcasing its market presence.
- The property's energy efficiency and quality amenities attract high-quality tenants like Burlington.
- None.
NEW YORK, July 28, 2022 /PRNewswire/ -- 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.
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 at esrtreit.com and by following ESRT on Facebook, Instagram, Twitter and LinkedIn.
Forward-Looking Statements
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SOURCE Empire State Realty Trust, Inc.
