Newswire Mann Report

Burlington Stores Inc. Expands by 67,865 Square Feet at 1400 Broadway

1400 Broadway (Photo courtesy of Empire State Realty Trust)

Burlington Stores Inc. signed an expansion lease for an additional 67,865 square feet of office space across two full floors at 1400 Broadway, announced Empire State Realty Trust. 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.”

Amenities include a new, 170-plus 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.