Empire State Realty Trust Welcomes Swedbank to the Empire State Building

Rhea-AI Summary

Empire State Realty Trust (NYSE: ESRT) has secured a lease with Swedbank for 7,905 sq ft on the 45th floor of the Empire State Building. This addition reflects ESRT's continued appeal to top credit businesses and international tenants, bolstered by its WELL Health-Safety Rating. The company’s portfolio includes 10.1 million rentable sq ft, with significant space in both Manhattan and surrounding areas. The leadership underscores a commitment to energy efficiency and high indoor environmental quality, aiding in tenant comfort and safety during the ongoing health crisis.

Positive

• Secured a 7,905 sq ft lease with Swedbank, enhancing occupancy and revenue potential.
• Achieved the WELL Health-Safety Rating, positioning ESRT as a leader in health and safety standards, attracting international tenants.

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• None.

NEW YORK, Nov. 9, 2020 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Swedbank, a Stockholm-based banking group, signed a 7,905 sq ft. lease on the 45^th floor at the Empire State Building.

"We are delighted to welcome Swedbank to the Empire State Building. Our entire portfolio continues to attract top credit businesses, especially international tenants who are particularly focused on our best-in-class Indoor Environmental Quality and Energy Efficiency," said Thomas Durels, EVP, Real Estate.  "ESRT is the first commercial real estate portfolio in the U.S. to achieve the WELL Health-Safety Rating, and our leadership in Indoor Environmental Quality makes companies comfortable that they can return their employees to the office."

Zev Holzman and Paul Revson from Savills represented Swedbank in the deal. Shanae Ursini provided landlord representation from ESRT along with Paul Glickman, Jonathan Fanuzzi, Simon Landmann, Colleen Hollowood, and Kip Orban from JLL.

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.  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, 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 agreement did Empire State Realty Trust secure?

Empire State Realty Trust signed a lease with Swedbank for 7,905 sq ft on the 45th floor of the Empire State Building.

How does the WELL Health-Safety Rating impact Empire State Realty Trust?

The WELL Health-Safety Rating enhances tenant confidence in ESRT's properties, making it more appealing to businesses focused on health and safety.

What is the total rentable square footage of Empire State Realty Trust's portfolio?

Empire State Realty Trust's portfolio covers 10.1 million rentable square feet.

When was the lease with Swedbank announced?

The lease with Swedbank was announced on November 9, 2020.

Where is the Swedbank office located within Empire State Realty Trust's portfolio?

Swedbank's office is located on the 45th floor of the Empire State Building.