Kearney Signs 27,866 Square Foot Duplex Lease for the Empire State Building’s Highest Office Floors

Rhea-AI Summary

Empire State Realty Trust (ESRT) has signed a lease with global management consulting firm Kearney for a 27,866 square foot duplex on the highest office floors of the Empire State Building. The new lease agreement marks Kearney's 100-year anniversary and positions their New York team in a landmark location. The Empire State Building, a fully modernized landmark, offers unparalleled amenities including a tenant-only fitness center, conference center, multiple dining options, and the soon-to-open Empire Lounge. The building is also noted for its premier indoor environmental quality and sustainability measures. Both Kearney's employees and ESRT's representatives expressed enthusiasm about the new arrangement.

Positive

• Kearney signed a lease for 27,866 sq ft duplex at the Empire State Building, enhancing occupancy rates.
• The lease agreement positions Kearney's New York team in an iconic and modernized location.
• The Empire State Building offers extensive amenities, potentially attracting more high-profile tenants.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed a new lease with global management consulting firm Kearney for a 27,866 square foot duplex on the two highest office floors at the Empire State Building (ESB), the “World’s Most Famous Building.”

Empire State Building (Photo: Business Wire)

“Kearney is proud to base our New York team in the Empire State Building,” said Candice Yee, Lead Partner of Kearney’s New York office. “We are excited to mark our 100-year anniversary in a landmark building as iconic as our firm.”

The Empire State Building is a fully modernized landmark that offers newly built office space equipped with ESRT’s premier indoor environmental quality and sustainability measures. The building houses more than 65,000 square feet of unmatched amenities which include a tenant-only fitness center, conference center, seven in-building dining options, and the soon-to-open Empire Lounge that will include a 400+ person all-hands space, basketball/pickleball court, and two golf simulators.

“Kearney employees will enjoy breathtaking views from the topmost office floors at the Empire State Building, and of course have access to fantastic amenities and benefit from ESRT’s premier indoor environmental quality measures,” said Thomas P. Durels, EVP, Real Estate at Empire State Realty Trust. “We are pleased to welcome Kearney to our top-tier tenant roster.”

Matt Felice, Gil Ohls, and Barbara Winter of JLL represented Kearney in the lease negotiations. Jordan Berger of ESRT and Scott Klau, Erik Harris, and Neil Rubin of Newmark represented the property owner.

More information about the Empire State Building, and current office availability, can be found online.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, the #1 attraction in the U.S. in Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best for two consecutive years. As of December 31, 2023, ESRT's portfolio is comprised of approximately 8.6 million rentable square feet of office space, 0.7 million rentable square feet of retail space and 727 residential units. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn.

About Kearney

Kearney is a leading global management consulting firm. Driven to be the difference between a big idea and making it happen, we work alongside our clients to create a future that works for everyone. To learn more about Kearney, please visit https://www.kearney.com.

Source: Empire State Realty Trust
Category: Leasing

View source version on businesswire.com: https://www.businesswire.com/news/home/20240701421901/en/

Empire State Realty Trust

Brock Talbot

212-850-2679

btalbot@esrtreit.com

Source: Empire State Realty Trust, Inc.

FAQ

What is the new lease agreement between ESRT and Kearney?

Empire State Realty Trust signed a lease with Kearney for a 27,866 sq ft duplex on the highest office floors of the Empire State Building.

What are the amenities offered at the Empire State Building for Kearney employees?

Amenities include a tenant-only fitness center, conference center, seven dining options, and the soon-to-open Empire Lounge with a basketball/pickleball court and golf simulators.

How does the new lease agreement affect ESRT's occupancy rates?

The lease with Kearney enhances ESRT's occupancy rates by filling 27,866 sq ft of office space in the Empire State Building.

What is significant about Kearney's new location in the Empire State Building?

Kearney's new duplex lease at the Empire State Building marks their 100-year anniversary and provides their New York team with a prestigious, modernized office space.