8legs: Empire state realty trust

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#1 out of 2100.00%

Empire State Realty Trust to acquire the Scholastic Building in Manhattan for $386 million.
The deal includes 368,000 sq ft of office space and 28,000 sq ft of retail space.
Scholastic will lease 222,000 sq ft under a 15-year term.
The property is 70% leased, situated in Manhattan’s SoHo submarket.
The deal is all-cash and underscores strategic growth in Manhattan's SoHo.
Closing is expected in December 2025.
ESRT aims to boost revenue potential through this acquisition.
The property’s size and lease terms position it as a strategic asset in NYC.
The announcement references the deal within TradingView’s news coverage.

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#2 out of 2100.00%

Scholastic announced sale-leaseback deals for its NYC headquarters and Missouri distribution center, aiming to unlock $401 million in net proceeds.
555-557 Broadway was sold for $386 million with a 15-year lease and two 10-year extensions; annual rent will rise with other cost changes.
Jefferson City facility fetched $95 million with a 20-year triple net lease and two 10-year extensions.
Scholastic expects closing of both transactions by the end of 2025 after customary conditions.
The moves are intended to strengthen Scholastic's balance sheet and support long-term, profitable growth and shareholder value.
Scholastic will continue operations at both properties under long-term leases after the sales.
Newmark Group served as exclusive advisor; Hogan Lovells and Gagnier Communications also advised Scholastic on the deals.
The proceeds will fund Scholastic's capital allocation priorities, including debt reduction and share repurchases.
Scholastic emphasized that the monetization preserves long-term use of strategic real estate assets.

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