Instacart, the San Francisco-based grocery delivery platform, has leased 26,134 square feet at 111 West 33rd Street in Midtown Manhattan. Empire State Realty Trust (ESRT) announced the seven-year deal, signed in Q2 2026, at an asking rent of $75 per square foot annually.
The lease underscores ESRT's ability to attract major tech tenants to its Midtown portfolio during a competitive market. At $75/sf, the rent reflects current Midtown asking rates for quality office space, positioning ESRT's building competitively against newer developments in the submarket.
For Instacart, the 111 West 33rd address provides expansion room as the company scales operations. The location offers proximity to transit via the A, C, E subway lines and Penn Station, critical infrastructure for a logistics-heavy business. The seven-year commitment signals confidence in Instacart's growth trajectory and long-term Manhattan presence.
The deal benefits ESRT's occupancy metrics and revenue stability. The landlord operates a portfolio of Class B and Class A properties across Midtown, and securing major tech tenants helps diversify revenue beyond legacy office leases. Instacart's lease provides $1.96 million in annual base rent for ESRT (26,134 sf at $75/sf).
For Midtown's office market, the deal demonstrates continued appetite from tech and logistics firms despite remote-work shifts. While office demand has contracted since 2020, companies requiring space for customer service, operations, and engineering teams continue leasing at sustainable rates.
Brokers involved in the transaction were not disclosed in ESRT's announcement. The lease adds to Instacart's existing New York footprint and reflects the company's commitment to maintaining significant East Coast operations.