Kaltex North America Grows in Empire State Building
Kaltex North America will be expanding inside the Empire State Building, taking 5,946 square feet to grow its total footprint to 41,879 square feet.
The company, which is an affiliate of Mexican textile company Grupo Kaltex, will now have the entire 70th floor and a portion of the 71st floor in the iconic building, as was first reported by The New York Post.
Chip Conklin, Michael Goldman and Dan Posy, all of Studley, represented Kaltex North America in the deal. William Cohen, Ryan Kass, and Shanae Ursini of Newmark (NMRK) Grubb Knight Frank represented Malkin Properties, the landlords of The Empire State Building (350 Fifth Avenue).
Grupo Kaltex has multiple companies spread across the United States, with Kaltex North America leasing space both at the Empire State Building and 1211 Avenue of the Americas, at a footprint of roughly 25,000 square feet, according to Mr. Conklin.
In an effort to consolidate its space, Grupo Kaltex was looking to bring both Kaltex North America under one roof.
“We looked at many, many sites throughout the geographical area that they preferred, and it just came down to a couple of different properties,” said Mr. Conklin.
Ultimately the company decided to expand inside The Empire State Building.
“They have a long history at the Empire State Building, so I think that also played a part in it,” he added. The company had been inside the building for at least 30 years.
The Empire State Building experienced tragedy when last month a disgruntled former employee of Hazan Imports Corp., a tenant in a building next door to the 2.9-million-square-foot building, shot and killed a co-worker before being killed by NYPD officers in a hail of gunfire.
While Kaltex North America had already finalized its lease deal at the building, it was still upsetting to the company.
“I know they were shaken by it a little bit, but thank God no one within the organization had any issues with that, and no one was involved, which is a blessing,” said Mr. Conkin.