{"id":799130,"date":"2025-01-08T16:38:44","date_gmt":"2025-01-08T21:38:44","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\/"},"modified":"2025-01-08T16:38:44","modified_gmt":"2025-01-08T21:38:44","slug":"vornados-retail-jv-completes-350-million-transaction-with-uniqlo","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\/","title":{"rendered":"Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO"},"content":{"rendered":"<div class=\"mw_release\">\n<p>NEW YORK, Jan.  08, 2025  (GLOBE NEWSWIRE) &#8212; Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed the previously announced sale to UNIQLO of the portion of its U.S. flagship store at 666 Fifth Avenue owned by the retail joint venture for $350 million.<\/p>\n<p align=\"justify\">The joint venture continues to own 23,832 square feet of retail space (7,416 square feet at grade) at 666 Fifth Avenue consisting of the Abercrombie &amp; Fitch and Tissot stores.<\/p>\n<p align=\"justify\">The $342 million of net proceeds from the sale were used to partially redeem Vornado\u2019s $390 million of preferred equity on the asset.<\/p>\n<p align=\"justify\">Vornado Realty Trust is a fully-integrated equity real estate investment trust.<\/p>\n<p>\n        <strong><br \/>\n          <strong>CONTACT<\/strong><br \/>\n        <\/strong>\n      <\/p>\n<p>\n        <strong>Thomas J. Sanelli<\/strong><br \/>\n        <br \/>(212) 894-7000<\/p>\n<p>Certain statements contained herein may constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as &#8220;approximates,&#8221; &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;would,&#8221; &#8220;may&#8221; or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see \u201cRisk Factors\u201d in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2023. Currently, some of the factors are the increased interest rates and inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyODk5OSM2Njg1NjE0IzIwMDgxNzI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ODg3MGFjNTItYjFjMC00ZDkxLThjYzQtMDg5Y2U1NDIyN2FiLTEwMTk3NDU=\/tiny\/Vornado-Realty-Trust.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) &#8212; Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed the previously announced sale to UNIQLO of the portion of its U.S. flagship store at 666 Fifth Avenue owned by the retail joint venture for $350 million. The joint venture continues to own 23,832 square feet of retail space (7,416 square feet at grade) at 666 Fifth Avenue consisting of the Abercrombie &amp; Fitch and Tissot stores. The $342 million of net proceeds from the sale were used to partially redeem Vornado\u2019s $390 million of preferred equity on the asset. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli (212) &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-799130","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) &#8212; Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed the previously announced sale to UNIQLO of the portion of its U.S. flagship store at 666 Fifth Avenue owned by the retail joint venture for $350 million. The joint venture continues to own 23,832 square feet of retail space (7,416 square feet at grade) at 666 Fifth Avenue consisting of the Abercrombie &amp; Fitch and Tissot stores. The $342 million of net proceeds from the sale were used to partially redeem Vornado\u2019s $390 million of preferred equity on the asset. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli (212) &hellip; Continue reading &quot;Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-08T21:38:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMyODk5OSM2Njg1NjE0IzIwMDgxNzI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO\",\"datePublished\":\"2025-01-08T21:38:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\\\/\"},\"wordCount\":311,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTMyODk5OSM2Njg1NjE0IzIwMDgxNzI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/vornados-retail-jv-completes-350-million-transaction-with-uniqlo\\\/\",\"name\":\"Vornado\u2019s Retail JV Completes $350\u00a0Million Transaction with UNIQLO - 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