The Real Deal New York

JCDecaux takes 47K sf at Empire State Building

Advertising company will occupy 73rd and 74th floors
July 27, 2016 09:35AM

The Empire State building at 350 Fifth Avenue in Midtown

Outdoor advertising company JCDecaux signed a 46,537-square-foot lease at the Empire State Building, landlord Empire State Realty Trust announced Wednesday.

The real estate investment trust, which is set to report earnings Wednesday evening, spent a reported $550 million on renovating the famous office tower starting in 2011.

The building’s tenants include Linkedin, Skanska, Shutterstock and HNTB.In May, consultancy firm ZS Associates leased 20,000 square feet at the tower.

JCDecaux, headquartered in France, will occupy the entire 73rd and 74th floors. ESRT’s director of leasing and operations Thomas Durels said two full floors in the tower remain available.

CBRE’s TRData LogoTINY Snezana Anderson, Brad Needleman and Bernhard Weinstabel represented the tenant. ESRT’s Ryan Kass, Fred Posniak and Shanae Ursini and JLL’s Paul Glickman, Jonathan Fanuzzi, Simon Landmann, Kip Orban and Harley Dalton represented the landlord.

Earlier this year, Empire State Realty Trust chairman and CEO Tony Malkin said his firm would be playing it safe in the near future, planning “no development, no joint ventures, no bidding or buying at current cap rates and no lending.”– Konrad Putzier