Scholastic sells NYC HQ for $386M and Mo. warehouses for $95M in sale-leasebacks

SCHOLASTIC CORP

NYC building at 557 Broadway sold to ESRT (Empire State Realty Trust) for $386M; closing Dec 16-18, 2025.
Scholastic leases back floors 6-12 for 15 years, two 10-yr extensions; aggregate fixed rent $333M over initial term.
Jefferson City, MO warehouse sites sold to Fortress affiliate FNLR for $94.97M; closing by Dec 31, 2025.
Scholastic leases back all three warehouses for 20 years, two 10-yr renewals; initial annual rent ~$6.886M, CPI-adjusted.
Neither transaction conditioned on buyer financing; Scholastic retains rights of first offer to purchase properties if offered.

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