Burlington Stores continues to need more space at its Midtown South, Manhattan office, 1400 Broadway. This time, the retailer has expanded to 206,392 square feet at the property, according to a new January Manhattan office report from Colliers.
This deal will give Burlington 35,629 square feet of extra space to work with at the 37-story building. Colliers' Alan Desino represented Burlington on the lease.
The company last increased its presence at 1400 Broadway in 2024 and has expanded at least three other times since initially signing a 35,112 square foot lease in 2010.
According to Empire State Realty Trust, which owns the building, the property is undergoing a $45 million renovation. The building offers tenants build-to-suit and turn-key opportunities. Times Square, Herald Square and Pennsylvania Station are all within proximity to 1400 Broadway.
Burlington Stores had the third largest lease in January, according to the Colliers report. The two larger ones were Gibson, Dunn & Crutcher's 361,659 square foot renewal at 200 Park Avenue and Starr's 275,193 square foot deal at 343 Madison Avenue. Nike came in fourth place with its 149,802 square foot renewal at 855 Avenue of the Americas.
Meanwhile, office leasing overall was mixed in Manhattan to start the year. On one hand, the market saw a marginal improvement in 3.69 million square feet in activity compared with 3.63 million square feet recorded in December. However, leasing was down by almost 30 percent year-over-year. Meanwhile, Midtown South's activity was actually up 12.6 percent year-over-year but down 6.4 percent from December.
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