Davidson, Dawson, & Clark Renews Lease With Empire State Realty Trust With 11-Year Extension At One Grand Central Place
Empire State Realty Trust (NYSE: ESRT) has renewed the lease with Davidson, Dawson, & Clark, LLP for 12,715 square feet at One Grand Central Place, extending their relationship for another 11 years. The decision was influenced by the building's prime location, amenities, and ESRT's commitment to indoor environmental quality. One Grand Central Place features energy-efficient office space, a tenant-only conference center, and enhanced ventilation systems. ESRT, recognized for its sustainability efforts, manages a portfolio covering 10.1 million rentable square feet across Manhattan and surrounding areas.
- Lease renewal with Davidson, Dawson, & Clark enhances occupancy stability for ESRT.
- One Grand Central Place offers attractive amenities and energy-efficient features, improving tenant satisfaction.
- ESRT's portfolio includes 10.1 million rentable square feet, indicating strong market presence.
- None.
NEW YORK, Oct. 28, 2021 /PRNewswire/ -- Empire State Realty Trust (NYSE: ESRT) announced today that Davidson, Dawson, & Clark, LLP, a leading Trusts and Estates firm in New York City, has renewed their lease at One Grand Central Place. The lease for the 12,715-square-foot unit has been extended for 11 years.
"Our valuable relationship with ESRT was one component in our decision to extend our lease at One Grand Central Place," said James Kelly, managing partner at Davidson, Dawson, & Clark, LLP. "The added benefit of the building's amenities and prime location, along with ESRT's commitment to healthy buildings and indoor environmental quality, made our choice to renew and extend our lease easy."
One Grand Central Place offers 55 stories of modern, energy-efficient office space and amenities which include a tenant-only conference center, multiple dining options, and in-building access to Grand Central Station's commuter trains, five subway lines, and retailers. Equipped with premier indoor environmental quality measures – which include MERV 13 filters, active bi-polar ionization, and increased ventilation – and a beneficiary of ESRT's leadership in energy efficiency, One Grand Central Place provides a confident return to office for tenants and visitors.
"We are delighted that Davidson, Dawson, & Clark has extended our decade-long relationship for another decade with a renewal of their lease with us at One Grand Central Place," said Thomas P. Durels, executive vice president, real estate at ESRT.
Norman Bobrow and David Badner of Norman Bobrow & Co., Inc. represented Davison, Dawson, & Clark, LLP in the lease negotiations. Property owner representation was provided by Ryan Kass of Empire State Realty Trust, and Erik Harris, Neil Ruben, Scott Klau, and William Cohen of Newmark.
More information about One Grand Central Place, as well as current availability, can be found online.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) 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 Building." The company's office and retail portfolio covers 10.1 million rentable square feet, as of September 30, 2021, which consists of 9.4 million rentable square feet across 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; as well as approximately 700,000 rentable square feet in the retail portfolio.
Empire State Realty Trust is a leader in energy efficiency in the built environment and sustainability space, with 76 percent of the eligible portfolio ENERGY STAR certified and 100 percent fully powered by renewable wind electricity. As the first commercial real estate portfolio in the Americas to achieve the evidence-based, third-party verified WELL Health-Safety Rating for health and safety, ESRT additionally earned the highest possible GRESB 5 Star Rating and Green Star recognition for sustainability performance in real estate and was named a Fitwel Champion for healthy, high-performance buildings. To learn more about Empire State Realty Trust, visit esrtreit.com and follow ESRT on Facebook, Instagram, Twitter and LinkedIn.
Forward-Looking Statements
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, 2020 and Quarterly Report on Form 10-Q for the period ended March 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.
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SOURCE Empire State Realty Trust, Inc.
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