September 27, 2010

The company, which leased a new pre-built suite, will move from its current location on 150 East 52nd Street this fall.

"International brand-name companies appreciate the recognition and cachet of the Empire State Building," says Mr. Posniak. "The transaction with Air China is another example of a perfect match between a prestigious company and the World's Most Famous Office Building."

Headquartered in Beijing, Air China offers 6,000 flights per week. It is a member of the Star Alliance, the global leading airline network, and was the airline partner of the 2008 Beijing Olympic Games.

"This transaction also demonstrates that pre-builts are no longer the domain of small companies," Mr. Posniak notes. "Pre-builts that are constructed according to the highest standards - as they are at the Empire State Building and across the W&H portfolio - are ideal choices for large companies headquartered elsewhere who seek a footprint in New York City and wish to avoid the hassles of construction."

Aaron Ellison and Ruth Wang of Jones Lang LaSalle represented Air China in the lease negotiations. Billy Cohen, Lauren Davidson, Ryan Kass and Julie Christiano of Newmark Knight Frank represented the landlord.

Soaring 1,454 feet above Midtown Manhattan, the Empire State Building is the World's Most Famous Office Building. With new investments in infrastructure, public areas and amenities totaling more than $550 million, the Empire State Building has attracted and continues to attract corporate tenants in a diverse array of industries from around the world.

The Empire State Building also has taken a leading role in sustainability, partnering with the Clinton Climate Initiative, Rocky Mountain Institute, Johnson Controls and Jones Lang LaSalle to develop an innovative process for a comprehensive energy efficiency retrofit program that will reduce the building's total energy consumption by 38% and that has led the building to receive an Energy Star rating of 90, placing it in the top 10% in energy efficiency among all buildings measured under the Energy Star program. The energy retrofit program that contributed to the Energy Star designation is also an important element in the target to seek LEED-EB Gold certification from the United States Green Building Council.

The Empire State Building's upgrades - planned and completed - include a comprehensive restoration of the Art Deco lobby and ceiling, along with the creation of a dedicated 34th Street tenant entrance, visitor desk and access control, messenger center, new restrooms, air-conditioned public corridors, new marble elevator cabs, 6,500 new windows, improvements to the building-wide mechanical and electrical systems, and improved security systems.

Part of the W&H Properties' Pre-War Trophy office portfolio, the Empire State Building is supervised by Malkin Holdings LLC, one of New York City's most financially stable ownerships. Broker commissions are paid in full at lease signing.