Empire State Realty Trust Renews Trexquant at First Stamford Place

Rhea-AI Summary

Empire State Realty Trust (NYSE: ESRT) announced the renewal of Trexquant Investment's lease at First Stamford Place for 9,805 square feet. Jeffrey H. Newman, senior vice president of ESRT, highlighted the firm's WELL Health-Safety Rating and a GRESB 5 Star Rating, demonstrating its commitment to indoor environmental quality. The company manages a portfolio covering 10.1 million rentable square feet, including 14 office properties across New York and Connecticut. ESRT's achievements in sustainability place it in the top 20% of real estate firms globally.

Positive

• Renewed lease with Trexquant for 9,805 square feet enhances occupancy rates.
• Achieved WELL Health-Safety Rating, positioning ESRT as a leader in healthy building standards.
• Received GRESB 5 Star Rating, indicating strong sustainability performance.
• Portfolio covers 10.1 million rentable square feet, providing substantial market presence.

Negative

• None.

NEW YORK, Jan. 5, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Trexquant Investment, a quantitative investment firm, renewed its lease at First Stamford Place for 9,805 square feet.

"ESRT is happy to extend our relationship with Trexquant," said Jeffrey H. Newman, senior vice president of ESRT. "Our entire portfolio is the first in North America to be certified under the WELL Health-Safety Rating, and recently achieved a 5 Star Rating from GRESB. With these certifications, ESRT's overall leadership in Indoor Environmental Quality (IEQ), and First Stamford Place's direct access off I-95 with proximity to the Stamford Transportation Center, the property serves as the ideal location for companies to recruit and retain employees from across the tri-state area."

Torey Walsh from Newmark Knight Frank represented Trexquant in the lease negotiations. Jeffrey H. Newman and Kimberly Zaccagnino represented ESRT along with Jay Hruska, Steve Baker, Bill Montague, and John Altieri from Cushman & Wakefield.

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." ESRT is a leader in energy efficiency in the built environment and sustainability and is the first commercial real estate portfolio in the U.S. to achieve the WELL Health-Safety Rating, an evidence-based, third-party verified rating for all facility types, focused on operational policies, maintenance protocols, emergency plans and stakeholder education to address a COVID-19 environment now and broader health and safety-related issues into the future.

In its first year of submission, ESRT has earned the highest possible GRESB 5 Star Rating and Green Star recognition, and score of 88, in the 2020 GRESB Real Estate Assessment, an achievement that places ESRT in the top 20% of all respondents.  GRESB is recognized globally as a rigorous standard widely recognized as one of the best measures of sustainability performance of real estate companies and funds.

The Company's office and retail portfolio covers 10.1 million rentable square feet, as of  September 30, 2020, consisting of 9.4 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 700,000 rentable square feet in the retail portfolio. 

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, 2019 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, 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.

FAQ

What recent lease activity has Empire State Realty Trust (ESRT) announced?

Empire State Realty Trust announced the renewal of Trexquant Investment's lease for 9,805 square feet at First Stamford Place.

What ratings has Empire State Realty Trust (ESRT) achieved?

ESRT has achieved a WELL Health-Safety Rating and a GRESB 5 Star Rating, reflecting its leadership in sustainability and indoor environmental quality.

What is the size of Empire State Realty Trust's portfolio?

As of September 30, 2020, ESRT's portfolio covers 10.1 million rentable square feet, including office and retail properties.

Where is First Stamford Place located?

First Stamford Place is located in Stamford, Connecticut, with direct access off I-95 and proximity to the Stamford Transportation Center.

When was the press release about the Trexquant lease renewal issued?

The press release was issued on January 5, 2021.