Burlington Stores, Inc. has recently signed a lease for an additional 67,865 square feet of office space at Empire State Realty Trust’s 1400 Broadway in Midtown Manhattan. This expansion brings Burlington’s total occupancy within ESRT’s portfolio to 170,763 square feet across five full floors. The new lease term for the expansion space will be coterminous with their current office space and is set for a duration of 16 years.
Since their initial deal in 2010 for 35,182 square feet, Burlington has expanded three times with ESRT at the same location resulting in an additional total of135,581 square feet.
According to Thomas P. Durels , EVP of real estate at Empire State Realty Trust “Our partnership with Burlington continues to grow stronger through this recent expansion which further solidifies our properties as top-tier office spaces in New York City that cater to the market’s demand for quality properties and strong balance sheets.”
The negotiations were handled by Alan Desino from Colliers International on behalf of Burlington while ownership was represented by Shanae Ursini from ESRT and Scott Klau , Neil Rubin , and Erik Harris from Newmark .
This news was originally published on Connect CRE .
