As office tenants look for new and redeveloped space, Vornado Realty Trust's leasing team is busy, according to comments President and CFO Michael Franco made on the company's recentQ4 2020 earnings call.
Franco says that Vornado has 300,000 square feet of leases out in negotiation, including a 55,000-square-foot lease with a tech company at 1290 Avenue of the Americas, a 33,000-square-foot lease expansion with a financial services company at 888 7th Avenue and a 75,000-square-foot lease out with a nationally recognized non-profit at 825 7th Avenue.
Also, Vornado is in discussions about an additional 1 million square feet. Many of these potential tenants would be new to its portfolio.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
