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SOURCE Empire State Realty Trust, Inc.
Will Relocate its Headquarters to World's Most Famous Office Building
NEW YORK, July 9, 2014 /PRNewswire/ -- Bulova Corporation has leased the entire 33,214-square-foot 29th floor of the Empire State Building, announces Empire State Realty Trust, Inc. (NYSE: ESRT) ("ESRT"), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area.
Bulova was founded in the late 1800s on Maiden Lane in lower Manhattan, which was then the nucleus of New York City's jewelry industry. After relocating to Fifth Avenue in the early 20th century, the firm established a new headquarters in the Woodside section of Queens, where it has made its home since 1954.
With this move, Bulova joins the growing roster of leading, prestigious, and innovative companies, including Coty, Li & Fung, LinkedIn, Shutterstock, and Skanska, which have relocated to the Empire State Building since its historic Empire State ReBuilding program commenced.
"We are very pleased to welcome Bulova to the Empire State Building, and add another great, international brand to our roster of quality tenants," said Thomas P. Durels, Chief of Property Operations and Leasing for Empire State Realty Trust. "The Empire State Building is New York City's premier Urban Campus: a place for innovative tenants to collaborate in a unique environment that enhances productivity, and offers a full complement of amenities in a beautifully restored architectural masterpiece."
"Bulova has been a fixture in New York City since its establishment more than one hundred years ago, and when looking for the right space for our corporate headquarters, this monumental location was a clear choice," said Bulova Corporation President Gregory Thumm. "We look forward to residing in a building that shares Bulova's legacy of cutting edge design, technological innovation and strong affiliation with New York City."
Deborah van der Heyden and Paul Ferraro of JLL represented the tenant in the lease negotiations. Landlord representation was provided by Ryan Kass and Fred Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank.
Amenities at the building include a 15,000-square-foot, tenant-only fitness center; State Grill and Bar, with private executive dining and event space (both opening this summer); a newly opened tenant-only conference center; multiple additional dining and food options; and a full complement of tenant services. The Empire State Building was recently certified Platinum by WiredNYC for its superior level of internet connectivity and diversity and access to fiber-based broadband.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous office building. Headquartered in New York, New York, the Company's office and retail portfolio covers 8.4 million rentable square feet, as of March 31, 2014, consisting of 7.7 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 624,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage and has recently exercised its options to acquire the ground lease of two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.
This press release includes "forward looking statements". Forward-looking statements may be identified by the use of words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates," "contemplates," "aims," "continues," "would" or "anticipates" or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, including those set forth under the headings "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Business" and "Properties." While forward-looking statements reflect the Company's good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company's future results, performance or transactions, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).
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