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Empire State Realty Trust CEO Tony Malkin (Getty, iStock) Empire State Realty Trust is bracing for its second largest tenant to exit its most iconic office property. While the real estate investment trust reported a second quarter uptick in leases across its portfolio, CEO Tony Malkin shared the news on Thursday that GBG, which leases 353,000 square feet at the Empire State Building, had just filed Chapter 11 proceedings. But Malkin told analysts at the earnings call that “we’ve been on top of this situation for several months.” GBG, a subsidiary of Global Brands Group Holding, is only behind LinkedIn as the largest tenant at ESRT’s Empire State Building. GBG has already subleased 162,000 square feet of space to a single tenant, said ESRT Chief Financial Officer Christina Chiu. She added the REIT will continue to receive rent payments directly from the subtenant as GBG goes through its restructuring process.

Tony malkinChristina chiuTony malkin gettyEmpire state realtyGlobal brands group holdingEmpire state realty trustState realty trustEmpire state buildingFinancial officer christinaடோனி மல்கின்கிறிஸ்டினா சியுடோனி மல்கின் கெட்டிபேரரசு நிலை ரியல்டீஉலகளாவிய பிராண்டுகள் குழு வைத்திருத்தல்பேரரசு நிலை ரியல்டீ நம்பிக்கைநிலை ரியல்டீ நம்பிக்கை