PARAMUS, NJ--Vornado Realty Trust completed a lease extension with Macy’s for the 646,000 sq. ft. Macy’s occupies at Eleven Penn Plaza. The extended lease runs through 2035. Eleven Penn Plaza is a 1.1-million-sq.-ft. Manhattan office building in the Penn Plaza district where Vornado owns approximately 9 million sq. ft. of office, retail and hotel space.
Vornado Realty Trust is a fully integrated equity real estate investment trust.
A little more than a year ago, Vornado completed a $330 million refinance for the office building. The REIT realized proceeds of about $126 million from the deal.