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Brokerage
Posted: September 27, 2022
Allied Universal expands by 22,000 s/f with Empire State Realty Trust at 501 Seventh Ave.
New York, NY According Empire State Realty Trust, Inc. (NYSE: ESRT), Allied Universal expanded and relocated from a 12,000 s/f space at ESRT's One Grand Central Place to a 30,000 s/f space at 501 Seventh Ave.
Located adjacent to Penn District's new developments with convenient access to Penn Station, tenants of 501 Seventh Ave. enjoy ESRT's leading healthy building technologies and indoor environmental quality.
"The market flight to quality is not just about new development; it is about tenant's desire for newly built and renovated, energy-efficient office space in modernized healthy buildings with convenient access to mass transit at an accessible price point," said Thomas Durels, executive vice president, real estate at Empire State Realty Trust.
Louis D'Avanzo and Michael Baraldi of Cushman & Wakefield represented Allied Universal in the lease negotiations. Shanae Ursini of ESRT and Ron Lo Russo, Heather Thomas, Patrick Murphy, Will Yeatman, and Pierce Hance of Cushman & Wakefield represented the property owner.
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