Media General Pens 27K Lease at Empire State Building
Danielle Schlanger Jan. 28, 2015, 12:08 p.m.
Media General, an operator of 71 television stations in 48 U.S. markets, has signed a 10-year lease for 26,782 square feet of space in the 102-story Empire State Building at 350 Fifth Avenue, according to a press release issued by Empire State Realty Trust, the real estate investment trust that owns and operates the landmark.
First reported by the New York Post, the new lease, signed on Jan. 12, reflects the company’s decision to centralize its six digital media companies and national sales headquarters into one location, which will span across the entire 62nd floor of the skyscraper. Media General is expected to move in this year; the space is currently vacant and construction will begin imminently.
“We are very pleased that our good relationship with an existing tenant gave us the opportunity to accommodate Media General’s growth into a full floor at the Empire State Building,” said Thomas P. Durels, the executive vice president and director of leasing and operations for ESRT, in prepared remarks.
ESRT’s Fred C. Posniak represented the landlord in-house, along with Newmark Grubb Knight Frank’s William Cohen, Jonathan Tootell and Shanae Ursini. Douglas Elliman’s James Gross and Peter Gross represented Media General.
Douglas Elliman could not immediately be reached for comment.
Asking rents were $69 per square foot.