PVH Corp. Expands Occupancy of Its Warnaco Group Unit At Empire State Realty
Trust's 501 Seventh Avenue
Lease Renewal Adds More Than 37,000 Square Feet, Raising Total to 223,616
NEW YORK, Dec. 2, 2013
NEW YORK, Dec. 2, 2013 /PRNewswire/ --Publicly traded PVH Corp., which is
listed on the NYSE (PVH: NYSE), has signed a long-term renewal and expansion
lease at 501 Seventh Avenue, a building owned by Empire State Realty Trust,
Inc. (NYSE: ESRT) (the "Company"), a leading real estate investment trust with
office and retail properties in Manhattan and the greater New York
metropolitan area, announces Thomas P. Durels, ESRT's Chief of Property
Operations and Leasing.
With the renewal and expansion on the premises, PVH will occupy 223,616 square
feet on part of the third, fifth and ninth floors and all of floors 10-15.
In February of 2013, PVH acquired Warnaco, which was headquartered at the
building. "501 Seventh Avenue was in the opening stages of a major
transformation, and the Times Square South submarket was just beginning to
change from a garment to office tenant market, when Warnaco moved in
approximately 10 years ago," says Mr. Durels. "Since then, the Times Square
South submarket is attracting quality office tenants from a wide range of
industries. We are thrilled to have PVH expand and extend its commitment with
us, and we look forward to continuing our long-term relationship."
Mitchell Konsker and Matthew Astrachan of Jones Lang LaSalle and Steven Bauer
of Cushman & Wakefield represented PVH in the lease negotiations. Harry
Blair, Sean Kearns and Kelli Mekles of Cushman & Wakefield represented Empire
State Realty Trust.
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 September 30, 2013, consisting
of 7.8 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 645,000 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 an option to
acquire 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 prospectus relating to the initial public offering, including those
set forth under the headings "Risk Factors," "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and "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, of 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
prospectus relating to the initial public offering, 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
SOURCE Empire State Realty Trust, Inc.
Contact: LVM Group Inc., Rachel Antman, (212) 499-6570, firstname.lastname@example.org;
David Grant, (212-499-6565), email@example.com
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