Here s Why Empire State Realty Trust (ESRT) Landed in Longleaf Partners Top Contributor List insidermonkey.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insidermonkey.com Daily Mail and Mail on Sunday newspapers.
Empire State Realty Trust CEO Tony Malkin (Getty, iStock)
Empire State Realty Trust is bracing for its second largest tenant to exit its most iconic office property.
While the real estate investment trust reported a second quarter uptick in leases across its portfolio, CEO Tony Malkin shared the news on Thursday that GBG, which leases 353,000 square feet at the Empire State Building, had just filed Chapter 11 proceedings.
But Malkin told analysts at the earnings call that “we’ve been on top of this situation for several months.”
GBG, a subsidiary of Global Brands Group Holding, is only behind LinkedIn as the largest tenant at ESRT’s Empire State Building. GBG has already subleased 162,000 square feet of space to a single tenant, said ESRT Chief Financial Officer Christina Chiu. She added the REIT will continue to receive rent payments directly from the subtenant as GBG goes through its restructuring process.
Empire State Realty Trust (ESRT) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
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Empire State Realty Trust Signs Rizzo Group and CodeGreen Solutions to 1350 Broadway
Empire State Realty Trust Signs Rizzo Group and CodeGreen Solutions to 1350 Broadway
PR Newswire
NEW YORK, July 6, 2021
NEW YORK, July 6, 2021 /PRNewswire/ Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Rizzo Group, a leading building code consulting firm, and CodeGreen Solutions, Inc., a decarbonization and sustainability solutions provider have signed a new, 11-year office lease with ESRT for an 11,835 square foot space at 1350 Broadway. The companies will relocate to this larger space from their prior space at 1333 Broadway. We will return to the office with an expanded footprint and confidence in ESRT s high-performance safety protocols and years-long leadership in indoor environmental quality and sustainability, said Stephen Rizzo, CEO at Rizzo Group and co-founder at CodeGreen Solutions. We found the right match for our
Empire State Building Partners With Macy s For 4th Of July Fireworks® Live From New York City prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.