New York City-based Empire State Realty Trust, a real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, has signed a 41,800-square-foot full-floor office lease with Nestlé’s Nespresso at 111 West 33rd St.
“Nespresso’s new 5th floor home will have an efficient floor plate and a beautiful outdoor terrace at 111 West 33rd Street where we have recently renovated the building’s lobby, elevators, and entryways on both 33rd and 34th Streets designed by STUDIOS Architecture,” says Thomas P. Durels, Executive Vice President, Real Estate, for ESRT. “Building-wide upgraded systems have been modernized for the 21st century.”
Nespresso is an operating unit of the Nestlé Group and a globally recognized brand. It delivers luxury coffee and espresso machines straight from the café into your kitchen.
Scott Panzer and Justin Haber of JLL represented Nespresso in the lease negotiations. Landlord representation was provided by Keith Cody of ESRT, along with Newmark Knight Frank’s Scott Klau, Erik Harris, and Neil Rubin.
The REIT’s office and retail portfolio covers 10.1 million rentable square feet, as of December 31, 2017, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio.