The Real Deal New York

Foot Locker moving HQ to Vornado’s 330 West 34th Street

Retailer relocating from Empire State Realty Trust's 112 West 34th Street

May 18, 2015 04:17PM

330 West 34th Street

330 West 34th Street and Steven Roth

Foot Locker is moving its corporate headquarters to Vornado Realty Trust’s 330 West 34th Street office building near Penn Station.

The sports apparel retailer has committed to the new space on floors two through four of 330 West 34th Street for at least 10 years, with asking rents at the 18-story, 700,000-square-foot building reportedly in the $60s per square foot.

A JLL team of Rob Martin and Christine Tong represented Foot Locker, with Vornado executives Craig Panzirer and Jared Silverman representing the landlord in-house, according to Crain’s.

Foot Locker will be moving from its 145,000-square-foot corporate offices at 112 West 34th Street, where the company recently signed a lease with Empire State Realty Trust to retain its retail flagship store.

The deal is the second major lease inked by Vornado at 330 West 34th Street in the past year. Online marketing company Yodle agreed to take space in the building last summer, as first reported by The Real Deal, with the company signing on for 114,000 square feet on the top three floors of the property.

Vornado plans to spend hundreds of millions of dollars to upgrade its properties in the Penn Plaza district around Penn Station. Steven Roth, the REIT’s chair and CEO, recently noted that upgrades to existing office inventory in the neighborhood would be the “defining part” of Vornado’s investment in the area. [Crain’s]Rey Mashayekhi