NEW YORK CITY—In a $734-million transaction that expands itsManhattan portfolio by 1.64 million square feet, EmpireState Realty Trust Inc. reports it has completed theacquisition of the ground and operating leases at 112 West 34th St.and the ground lease at 1400 Broadway.

The company acquired the interests in the two properties for$734 million in cash, common stock and operating partnership units.112 West 34th St. is a 26-story, 650,769-rentable-square-footoffice tower, with 92,455 square feet of retail space located inthe 34th Street/Penn Station submarket. An 89,529 square foot blockof retail space located directly across from Macy's flagshiplocation is currently being marketed for occupancy in mid-2016. Theproperty's office and retail space is 77.5% occupied and 83.2%leased, as of June 30, 2014, the company states.

1400 Broadway is a 37-story 880,131-rentable-square-foot officetower with 19,815 square feet of retail space, located in the TimesSquare South submarket. The property's office and retail space is acombined 92.6% occupied and 92.7% leased, as of June 30, 2014.