Empire State Realty Trust (ESRT) signed two renewal leases and one expansion with Burlington Stores Inc. and Nespresso at two Manhattan office buildings.
Burlington signed an expansion lease for a full-floor, 35,629-square-foot office space, and an early renewal lease for its current 170,763-square-foot space for a total footprint of 206,392 square feet at 1400 Broadway. This is Burlington’s fourth expansion with ESRT since its initial deal for 35,182 square feet in 2010.
In addition, Nespresso signed a renewal lease for its existing 41,835 square foot space at 111 West 33rd St. The company first signed on to lease the space in 2018.
“We are pleased that Burlington will grow their space at 1400 Broadway once again, and that we will continue our partnership with Nespresso at 111 West 33rd St.,” said Ryan Kass, executive vice president, co-head of real estate, chief revenue officer at ESRT. “Tenants value ESRT’s high-quality office spaces, unparalleled service and strong balance sheet, which is evidenced by the more than 3.2 million square feet of existing tenant expansions since 2013.”
Alan Desino of Colliers represented Burlington in the lease negotiations. Justin Haber, Kyle Riker, and Emma Gill of JLL represented Nespresso. ESRT’s Jordan Berger and Kerry Lavelle along with Newmark’s Scott Klau, Erik Harris, and Neil Rubin represented ESRT in both transactions.
