{"id":1004486287,"date":"2020-10-22T03:21:18","date_gmt":"2020-10-22T11:21:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004486287"},"modified":"2020-10-22T06:02:06","modified_gmt":"2020-10-22T14:02:06","slug":"empire-state-building-lands-212-ksf-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/","title":{"rendered":"Empire State Building Lands 212 KSF Lease"},"content":{"rendered":"
\"Empire<\/a>

Empire State Building. Image by Roberto Vivancos via Pexels.com<\/i><\/p><\/div>\n

Empire State Realty Trust has completed a direct lease agreement with Centric Bands at the 2.8 million-square-foot Empire State Building. The tenant will occupy 212,154 square feet at the Midtown Manhattan property. Centric previously occupied the space on a sublease from Global Brand Group.<\/p>\n

Located on 2 acres at 350 Fifth Ave., the 102-story tower was completed in 1931. In 2011, the owner executed a $550 million capital improvement plan on the high-rise, which resulted in a 38 percent decrease in energy consumption and $4.4 million in annual savings<\/a>. The landmark building has a 15,000-square-foot gym, a conference center and 50,000-square feet of retail space. The tenant mix also includes Coty, LinkedIn and the Federal Deposit Insurance Corp.<\/p>\n

The new lease agreement comes on the heels of Centric Brands\u2019 emergence from Chapter 11 Bankruptcy. Following its reorganization, the company reduced its debt by $700 million. Funds managed by Blackstone and its subsidiaries traded existing second lien mortgages for controlling equity interests in the firm.<\/p>\n

JLL Chairman Peter Riguardi and Vice Chairmen Joseph Messina and Cynthia Wasserberger assisted the tenant. The owner was self-represented by President & CEO Anthony Malkin, Senior Vice President Ryan Kass and Associate Vice President Shanae Ursini.<\/p>\n","protected":false},"excerpt":{"rendered":"

Centric Brands, which had been occupying subleased space, signed a direct lease at the Midtown Manhattan landmark.<\/p>\n","protected":false},"author":867,"featured_media":1004486302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,1600,21742,10,21747],"tags":[34346,37228,34345,32796,48860],"class_list":["post-1004486287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-new-york","category-latest","category-northeast","category-office","tag-anthony-malkin","tag-empire-state-building","tag-empire-state-realty-trust","tag-jll","tag-peter-riguardi"],"acf":[],"yoast_head":"\nEmpire State Building Lands 212 KSF Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empire State Building Lands 212 KSF Lease\" \/>\n<meta property=\"og:description\" content=\"Centric Brands, which had been occupying subleased space, signed a direct lease at the Midtown Manhattan landmark.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-22T11:21:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-22T14:02:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Empire-State-Building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/\",\"name\":\"Empire State Building Lands 212 KSF Lease - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Empire-State-Building.jpg\",\"datePublished\":\"2020-10-22T11:21:18+00:00\",\"dateModified\":\"2020-10-22T14:02:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Empire-State-Building.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Empire-State-Building.jpg\",\"width\":800,\"height\":620,\"caption\":\"Empire State Building. 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