Burlington Stores, Inc. signed an expansion lease for an additional 67,865 square feet of office space across two full floors at Empire State Realty Trust’s 1400 Broadway in Midtown Manhattan. With this expansion, Burlington will occupy a total of 170,763 square feet within ESRT’s portfolio across five full floors, with a new 16-year lease term for the expansion space coterminous with the current office space.
After an initial deal in 2010 for 35,182 square feet, Burlington has expanded with ESRT three times at 1400 Broadway for 135,581 additional square feet of space.
“Our longstanding partnership with Burlington grows stronger with this expansion, and further proves ESRT properties as top-of-tier office spaces in New York City which serve the market’s flight to property and balance sheet quality,” said Thomas P. Durels, EVP, real estate at Empire State Realty Trust.
Alan Desino of Colliers International represented Burlington in the lease negotiations. ESRT’s Shanae Ursini and the Newmark team of Scott Klau, Neil Rubin and Erik Harris represented ownership.