NEW YORK (Feb. 8, 2024) – Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Burlington Stores, Inc. signed an expansion lease for an additional 67,865 square feet of office space across two full floors at 1400 Broadway. With this expansion, Burlington will occupy a total of 170,763 square feet within ESRT’s portfolio across five full floors, with a new 16-year lease term for the expansion space coterminous with the current office space.
After an initial deal in 2010 for 35,182 square feet, Burlington has expanded with ESRT three times at 1400 Broadway for 135,581 additional square feet of space.
“Our longstanding partnership with Burlington grows stronger with this expansion, and further proves ESRT properties as top-of-tier office spaces in New York City which serve the market’s flight to property and balance sheet quality,” said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust. “Our modernized, amenitized, energy efficient, and well-located portfolio continues to attract tenants who seek the best. This is evident from the more than 2.6 million square feet of tenants who chose to stay and grow with us since our initial IPO in 2013.”
Located along the Broadway Pedestrian Plaza in the commuter triangle, 1400 Broadway provides convenient access to nearby transportation, dining, lodging, and entertainment. ESRT’s amenity rich portfolio includes a new 170+ person all-hands space at 1400 Broadway that features a wet bar; three large presentation flatscreens; video conferencing capabilities; sound system; and charging stations. The new all-hands space connects to 1400’s popular tenant lounge that accommodates more than 70 people.
Alan Desino of Colliers International represented Burlington in the lease negotiations. Shanae Ursini, Scott Klau, Neil Rubin, and Erik Harris represented the property owner.
More information about 1400 Broadway can be found online.
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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 Travelers’ Choice Awards: Best of the Best for two consecutive years. As of September 30, 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.
Forward-Looking Statements
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MEDIA CONTACT:
Empire State Realty Trust
Brock Talbot
347-804-7863
btalbot@esrtreit.com
Source: Empire State Realty Trust
Category: Leasing
