ESRT signs Instacart for 26.1K square feet at 111 W. 33rd Street, achieving full occupancy at the Manhattan property.
Empire State Realty Trust (NYSE: ESRT) secured a 26.1K-square-foot lease with Instacart at 111 W. 33rd Street in Manhattan during the second quarter. The deal, along with a 7.1K-square-foot lease with Hansa, lifted the building to 100% occupancy.
The property had previously faced partial vacancy, with occupancy rates below full capacity in prior quarters. The new leases reflect a rebound in demand for Midtown office space amid a competitive market.
Shares of ESRT showed muted movement following the announcement, as the news was largely priced into expectations for the sector.