Empire State Realty Trust initially asked for $350 million.

The fund has already purchased nine operating assets.

This marks one of the largest leases of the year in the borough.

The portfolio consists of 13 assets across eight markets.

As retail tenants struggle with limited availability, brokers who can find space before others will have an advantage.

Firms continue to demand high-quality space despite the economic uncertainty that lies ahead.

This was debated at GlobeSt.'s <a href="https://www.globest.com/2026/04/02/net-lease-investors-reassess-strategy-as-volatility-reshapes-cre-landscape/">Net Lease Spring 2026</a> event.

The retail portion of the property is anchored by Aldi.