Empire State Realty Trust’s portfolio 85 percent leased in Q3

TRD New York /
Nov.November 13, 2013 02:24 PM

Empire State Realty Trust’s leasing is on the rise, according to the newly-formed real estate investment trust’s first financial disclosure, covering the third quarter.

The company’s total portfolio was 85.7 percent leased as of the third quarter’s end, up 2.4 percentage points from the previous quarter, while its Manhattan office holdings were 83.7 percent leased, up 1.7 percentage points. The Empire State Building itself was 82 percent leased. Retail was 91.6 percent leased at the end of the third quarter, encompassing a total of 645,000 rentable square feet.

“Our portfolio demonstrated performance gains as we continued to implement our renovation, repositioning and leasing strategies,” Anthony Malkin, chairman, CEO and president of ESRT told GlobeSt. “We believe our properties have competitive advantages, including excellent locations at attractive values, and our program to reposition and retrofit our Manhattan portfolio creates strong tenant demand and enhances our operating margins.”

The company inked 53 leases during the quarter, including notable deals with Urban Outfitters at 1333 Broadway, and Gerson Lehrman Group and law firm Hafetz Necheles & Rocco at One Grand Central Place. ESRT went public on Oct. 2, raising $929.5 million through the initial offering.  [GlobeSt]Julie Strickland


Related Articles

arrow_forward_ios
Empire State Realty Trust CEO Anthony Malkin (Credit: Getty Images)

Ex-Empire State Realty Trust exec claims she was fired after complaining about age discrimination

Empire State Realty Trust's David A. Karp

Empire State Realty Trust’s CFO David Karp is stepping down

Time Equities CEO Francis Greenburger and Empire State Realty Trust CEO Anthony Malkin (Credit: Getty Images and iStock)

Going green has some city landlords seeing red

Insurer takes 40K sf at 111 West 33rd Street

Insurer takes 40K sf at 111 West 33rd Street

Infrastructure firm expands to more than 100K sf at Empire State Building

Infrastructure firm expands to more than 100K sf at Empire State Building

ESRT exec Thomas DeRosa lists 930 Fifth co-op for $5.9 million

ESRT exec Thomas DeRosa lists 930 Fifth co-op for $5.9 million

Ric Clark, Anthony Malkin, Empire State Building

Landlords in “nuclear arms race” to upgrade buildings: Ric Clark

T.J. Maxx expands by 19K sf at ESRT’s Columbus Circle building

T.J. Maxx expands by 19K sf at ESRT’s Columbus Circle building

arrow_forward_ios