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Empire State Realty Trust acquires two N.Y. leases for $734 million
New York - Empire State Realty Trust, Inc. (ESRT), a New York-based real estate investment trust, has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units. 112 West 34th Street is a 26-story, 650,769-rentable-sq.-ft.office tower, with 92,455-sq.-ft. of retail space located in the 34th Street/Penn Station submarket.
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Ikea submits plans for store in Las Vegas area
Conshohocken, Pa. -- Ikea is submitting plans to Clark County, Nevada, for a Las Vegas-area store that would increase the Swedish retailer’s presence in the western United States.
The application marks the beginning of an approval process that could lead to the store’s opening as early as summer 2016.
