Durels and Posniak of ESRT and Podell and Lerner of Cushman & Wakefield lease 11,334 s/f to Sephora USA

Empire State Realty Trust, Inc. (ESRT) has signed an 11,334 s/f retail lease with Sephora USA, LLC at 112 West 34th St., opposite Macy's flagship store, in excess of a year before the existing tenant Footlocker's lease expires. "Sephora is an international powerhouse with 1,900 locations worldwide, and recognizes the strength of this remarkable location on the dynamic 34th St. corridor between Fifth and Seventh Aves.," said Thomas Durels, ESRT's executive vice president, director of leasing and operations. "We have more than 72,000 s/f of prime retail remaining to be leased by April 30th, 2016 at 112 West 34th St., in the middle of the 34th St. shopping district that annually draws over 100 million pedestrians." Virginia Pitarelli of Crown Retail Services represented Sephora in the lease negotiations. Landlord representation for the two leases was provided by Durels and Fred Posniak of ESRT, along with Joanne Podell and Ian Lerner of Cushman & Wakefield. Currently, ESRT has four retail spaces in the 34th St. corridor, offered for the first time in over four decades. At 112 West 34th St., a ground-floor space of 13,243 s/f with 20-ft. clear ceiling heights can be combined with the entire second floor of 28,651 s/f and full lower level of 30,296 s/f, each with 14-ft. clear ceiling height. At the Empire State Building, three multi-level spaces of 8,600 s/f to 25,557 s/f are being marketed with possession spring 2016. ESRT, a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater metroarea, including the Empire State Building, the world's most famous office building. Headquartered in New York, the company's office and retail portfolio covers 10 million rentable s/f.