Vornado Plans $140M Retail Expansion At Times Square Hotel

Law360, New York (August 2, 2012, 5:12 PM EDT) -- Vornado Realty Trust will spend up to $140 million to redevelop the retail portion of the New York Marriott Marquis Times Square Hotel as part of a lease agreement with Host Hotels & Resorts Inc., the real estate investment trust announced Thursday.

Vornado will implement a major expansion of the hotel's retail space, converting the underground parking garage to accept retail tenants and installing a six-story LED sign to give the hotel a bigger presence among the big-screened buildings of Times Square.

Host Hotels, the nation's...
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