Alexander's Snapshot
Alexander's knows what's great about real estate. The real estate investment trust (REIT) owns, manages, and leases about a half-dozen properties totaling about 3.5 million sq. ft. of leasable space in metropolitan New York City. Once a department store chain, Alexander's held on to its property interests, including the site of its erstwhile flagship store -- an entire block on Manhattan's Lexington Avenue. The REIT leases space at the mixed-use site to tenants such as Bloomberg, The Home Depot, The Container Store, and Hennes & Mauritz. The Lexington site is also home to about 100 condominiums. Bloomberg accounts for about a third of the REIT's revenue.