Welcome to our dedicated page for EMPIRE STATE REALTY TRUST news (Ticker: ESRT), a resource for investors and traders seeking the latest updates and insights on EMPIRE STATE REALTY TRUST stock.
Empire State Realty Trust, Inc. (NYSE: ESRT) is a premier real estate investment trust (REIT) headquartered in New York, New York. As a leading entity in the real estate sector, ESRT specializes in the ownership, management, operation, acquisition, and repositioning of both office and retail properties in Manhattan and the greater New York metropolitan area. The company is renowned for its iconic property, the Empire State Building, which stands as one of the most famous buildings in the world.
As of June 30, 2015, Empire State Realty Trust's extensive office and retail portfolio boasts a substantial 10.0 million rentable square feet. This includes 9.3 million rentable square feet distributed across 14 office properties, with nine properties located in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York. Additionally, the retail portfolio encompasses approximately 720,000 rentable square feet.
Empire State Realty Trust operates as a pure-play greater New York and Manhattan-focused REIT, with around 9.4 million square feet of office space under its management, about 80% of which is located in Manhattan. The Empire State Building alone, featuring both office spaces and the popular observation deck, serves as a significant revenue generator and a prominent tourist attraction.
ESRT's strategic approach to real estate investment and management ensures that its properties are continually optimized for maximum value and performance. This includes ongoing projects aimed at enhancing tenant satisfaction, improving energy efficiency, and maintaining the historic integrity of its properties. The company's commitment to sustainability is evident in its efforts to achieve various environmental certifications and implement green building practices.
Financially, Empire State Realty Trust remains robust, with a diverse tenant base and a strategic focus on high-demand locations. The company's partnerships and collaborations with other industry leaders further strengthen its market position, offering shareholders confidence in its long-term growth and stability.
Empire State Realty Trust (NYSE: ESRT) announced the lease renewal of 79,059 square feet by Franklin Templeton at 100 First Stamford Place, comprising about 10% of the building's space. Located in Connecticut's prominent business district, the office campus features numerous amenities. Jeff Newman from ESRT highlighted that this move showcases the property's appeal for attracting talent in the tri-state area and underscores ESRT's commitment to sustainability and quality workspaces. ESRT manages approximately 9.2 million rentable square feet of office space, focusing on energy efficiency and indoor environmental quality.
Empire State Realty Trust (NYSE: ESRT) announced that CLA (CliftonLarsonAllen LLP) has leased the entire 51st floor of One Grand Central Place, totaling 12,422 square feet. This expansion represents a tripling of CLA's office space at the location in under two years. ESRT's executive vice president highlighted the building's modern amenities and convenient location, responding to market demand for quality office spaces. CLA's CEO praised the supportive leasing process provided by ESRT.
Empire State Realty Trust (NYSE: ESRT) announced that Allied Universal® has expanded and relocated its office from a 12,000 square foot space at One Grand Central Place to a new 30,000 square foot space at 501 Seventh Avenue. This move highlights the increasing demand for energy-efficient and modern office spaces, especially in New York City. The new location offers enhanced healthy building technologies and convenient access to mass transit. ESRT continues to lead in sustainability, owning a diverse portfolio of approximately 9.2 million rentable square feet.
The Empire State Building (ESB) announced a partnership with Tipsy Scoop to sell liquor-infused ice cream from the 86th Floor Observatory. This pop-up will run from August 3 to September 5, 2022, offering three boozy flavors and a signature sundae exclusive to ESB. Prices range from $4.50 to $12. The initiative aims to provide unique local flavors and enhance visitor experience. Tipsy Scoop founder expressed excitement for this collaboration, which encourages guests to share their experiences on social media.
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.
Empire State Building (ESB) announced plans for a new tenant-only amenity space to be completed within a year, featuring a town hall meeting area for 400, a basketball court, and a reservable lounge with golf simulators. Additionally, ESB appointed Newmark as its leasing agent, continuing a successful partnership. The building has undergone a significant energy retrofit, reducing carbon emissions by 54%. Current amenities include a fitness center, conference center, and dining options. ESB aims to attract quality tenants with modern infrastructure and energy-efficient features.
Empire State Realty Trust (NYSE: ESRT) announced that iCapital is expanding its office space at One Grand Central Place by adding 59,228 square feet, bringing its total leased area to 141,224 square feet. This marks iCapital's fourth expansion since its initial lease in 2017. The company values the location for its premier amenities and transport access. The long-term lease strengthens ESRT's portfolio, further establishing it as a leader in healthy and energy-efficient buildings.
The Empire State Building (ESB) announced the opening of registration for the 2022 Empire State Building Run-Up (ESBRU) on July 11, 2022. Scheduled for October 6, 2022, at 8 p.m. EST, the event will feature approximately 150 runners competing up 1,576 stairs. Registration costs $125 per participant. Turkish Airlines will sponsor the event for the fourth consecutive year, while the Challenged Athletes Foundation will partner to support adaptive athletes. The ESBRU promises to be a prominent event in tower running, reaffirming ESB’s legacy as a premier venue for such competitions.
Empire State Realty Trust (NYSE: ESRT) will announce its second quarter 2022 financial results on July 27, 2022, after market close. A conference call is scheduled for July 28, 2022, at 12:00 p.m. ET, to discuss performance and answer investor questions. Relevant materials will be available on the Company’s website prior to the call. ESRT manages a diverse property portfolio in NYC, including the Empire State Building, holding approximately 9.4 million square feet of office space and 700,000 square feet of retail space.
FAQ
What is the current stock price of EMPIRE STATE REALTY TRUST (ESRT)?
What is the market cap of EMPIRE STATE REALTY TRUST (ESRT)?
What is Empire State Realty Trust, Inc.?
What properties does Empire State Realty Trust own?
Where is Empire State Realty Trust headquartered?
What is the significance of the Empire State Building in ESRT's portfolio?
How much office space does Empire State Realty Trust manage?
What is the size of ESRT's retail portfolio?
What are some recent projects of Empire State Realty Trust?
Does Empire State Realty Trust focus on sustainability?
Who are the tenants of Empire State Realty Trust's properties?
How does Empire State Realty Trust ensure the value of its properties?
