Profile: Alexander's Inc (ALX)
21 Oct 2016
Alexander's, Inc. (Alexander's), incorporated on May 16, 1955, is a real estate investment trust (REIT). The Company operates through the leasing, management, development and redeveloping of properties segment in the greater New York City metropolitan area. The Company is managed by, and its properties are leased and developed by, Vornado Realty Trust (Vornado). The Company's properties in the greater New York City metropolitan area include 731 Lexington Avenue, Rego Park I, Rego Park II, The Alexander apartment tower, Paramus and Flushing. The Company's property under development is Rego Park III, an approximately 3.2 acre land parcel adjacent to the Rego Park II shopping center in Queens, at the intersection of Junction Boulevard and the Horace Harding Service Road.
731 Lexington Avenue
731 Lexington Avenue is an approximately 1,311,000 square foot multi-use building, comprising the entire square block bounded by Lexington Avenue, East 59th Street, Third Avenue and East 58th Street in Manhattan. The building contains approximately 889,000 and over 174,000 of net rentable square feet of office and retail space, respectively, which the Company owns. Bloomberg L.P. occupies all of the office space. The Home Depot (approximately 83,000 square feet), The Container Store (approximately 34,000 square feet) and Hennes & Mauritz (approximately 27,000 square feet) are the principal retail tenants.
Rego Park I
Rego Park I is an approximately 343,000 square foot shopping center, which is located on Queens Boulevard and 63rd Road in Queens. The center is anchored by an approximately 195,000 square foot Sears department store, over 50,000 square foot Burlington Coat Factory, approximately 46,000 square foot Bed Bath & Beyond, and over 36,000 square foot Marshalls.
Rego Park II
Rego Park II is an approximately 609,000 square foot shopping center, which is located adjacent to the Rego Park I shopping center in Queens. The center is anchored by an approximately 145,000 square foot Costco, over 135,000 square foot Century 21 and approximately 133,000 square foot Kohl's. In addition, approximately 47,000 square feet is leased to Toys R Us/Babies R Us, which is an affiliate of Vornado.
The Alexander Apartment Tower
The Alexander apartment tower, located above its Rego Park II shopping center, contains over 310 units aggregating approximately 255,000 square feet. The Company leased approximately 80 of the over 310 units.
Paramus is located at the intersection of Routes 4 and 17 in Paramus, New Jersey. It consists of approximately 30.3 acres of land, which is leased to IKEA Property, Inc.
Flushing is an approximately 167,000 square foot building, which is located at Roosevelt Avenue and Main Street in Queens. Flushing is sub-leased to New World Mall LLC.
210 Route 4 East
PARAMUS NJ 07652