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NEW YORK, Aug. 2, 2022 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Allied Universal® expanded and relocated from a 12,000 square foot space at ESRT's One Grand Central Place to a 30,000 square foot space at 501 Seventh Avenue.
Located adjacent to Penn District's new developments with convenient access to Penn Station, tenants of 501 Seventh Avenue enjoy ESRT's leading healthy building technologies and indoor environmental quality.
"The market flight to quality is not just about new development; it is about tenant's desire for newly built and renovated, energy-efficient office space in modernized healthy buildings with convenient access to mass transit at an accessible price point," said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust.
Louis D'Avanzo and Michael Baraldi of Cushman & Wakefield represented Allied Universal® in the lease negotiations. Shanae Ursini of ESRT and Ron Lo Russo, Heather Thomas, Patrick Murphy, Will Yeatman, and Pierce Hance of Cushman & Wakefield represented the property owner.
More information about 501 Seventh Avenue, and current availabilities, can be found online.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and Tripadvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory. The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City. As of June 30, 2022, ESRT's portfolio is comprised of approximately 9.2 million rentable square feet of office space, 700,000 rentable square feet of retail space and 625 residential units across two multifamily properties. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, Twitter and LinkedIn.
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, (i) the current public health crisis and economic disruption from the COVID-19 pandemic, (ii) a failure of conditions or performance regarding any event or transaction described above, (iii) regulatory changes and (iv) 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, 2021 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.
Category: Leasing
