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Vornado Realty Trust

Headquarters: 888 Seventh Ave.
New York, NY 10019
Phone: (212) 894-7000
Employees: 4,823
CEO: Michael Fascitelli
Stock Symbol: VNO

Website: http://www.vno.com

Career Site

Vornado Realty Trust is a fully-integrated real estate investment trust (REIT). Vornado is one of the largest owners and managers of commercial real estate in the United States with a portfolio of over 100 million square feet, primarily located in the New York City and Washington, DC metropolitan areas. Vornado's core businesses include New York Office Properties, Washington, DC Office Properties, Retail Properties and Merchandise Mart Properties.

The Company owns all or portions of:

Office Properties:

  • In Midtown Manhattan - 30 office properties aggregating 20.8 million square feet
  • In the Washington, DC/Northern Virginia area - 77 properties aggregating 20.5 million square feet, including 63 office properties aggregating 17.5 million square feet and seven residential properties containing 2,424 units;
  • In San Francisco's financial district - a 70% controlling interest in 555 California Street, a three-building complex aggregating 1.8 million square feet, known as the Bank of America Center;

Retail Properties:

  • In Manhattan - 2.2 million square feet in 46 properties, of which 1.0 million square feet in 21 properties is in our Retail Properties segment and 1.2 million square feet in 25 properties is in our New York Office Properties segment;
  • 134 strip shopping centers, regional malls, and single tenant retail assets aggregating 24.2 million square feet, primarily in the northeast states, California and Puerto Rico;

Merchandise Mart Properties:

  • 5.7 million square feet of showroom and office space, including the 3.5 million square foot Merchandise Mart in Chicago;

Other Real Estate Investments:

  • A 32.4% interest in Alexander's Inc. (NYSE: ALX) which owns seven properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.3 million square foot Bloomberg headquarters building;
  • A 25% interest in Vornado Capital Partners, our $800 million real estate fund. We are the general partner and investment manager of the fund;
  • The 1,700 room Hotel Pennsylvania in Midtown Manhattan;
  • A 32.7% interest in Toys "R" Us, Inc.;
  • An 11% interest in JC Penney Company, Inc. (NYSE:JCP); and
  • Other real estate and related investments, marketable securities and mezzanine loans on real estate, including a 26.2% equity interest in LNR Property Corporation, an industry leading mortgage servicer and special servicer.

As a Real Estate Investment Trust (REIT), Vornado must pay out 90% of its income in the form of dividends in order to avoid corporate income taxes.

The company reported net income of $601.8 million for 2011 and revenues of $2.91 billion.

Benefits

Our benefits include:

  • Industry leading Medical and Prescription Plan at very low employee cost
  • Dental Plan at no employee cost
  • Tax Deferred 401(k) Plan with liberal Company match
  • Flexible Spending Accounts for medical and dependent care expenses
  • Life Insurance at 2 times annual compensation at no employee cost
  • Tuition Reimbursement Plan and Professional Development Reimbursements
  • Paid time off for vacation, holidays and personal days
  • Short-term disability with Full Salary Continuation Plan
  • Employee Assistance Program

Updated April 14, 2012

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