"It is AT&T's version of the Apple Store--a 'touch' type ofretail," Fred Posniak, SVP of W&H Properties, the building'sowner, tells GlobeSt.com. Ironically, Apple itself recentlycanceled plans to build a retail location a few blocks from theiconic office tower at 350 Fifth Ave. AT&T's Empire StateBuilding lease follows the June opening of an 8,000-square-footStarbucks there.

As part of a $500-million capital improvements program, the1,454-foot tower's ground-floor retail has been reconfigured. "Ourobjective was to reorganize the retail offerings at the building,"says leasing agent Eric Gelber, SVP of CB Richard Ellis, in arelease. "Building amenities, including food and business services,are now located on 33rd Street, while we are reserving the 34thStreet side of the building for major international retailers. TheAT&T and Starbucks deals are fully in line with thisobjective." Posniak adds that the purpose of the reorganization was"to attract better quality food vendors to 33rd Street."

There is one retail unit of 2,744 square feet available on 34thStreet, and two units totaling 4,740 square feet available on 33rdStreet, a W&H source tells GlobeSt.com. "W&H is onlyseeking national/international retailers on 34th Street andbuilding services on 33rd Street," Posniak says. He adds that thelatter includes "places where building tenants can go before,during and after work--e.g., beauty, food and entertainment."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.