Vornado Realty Trust is a real estate investment trust (REIT) which can trace its origins to the 1946 founding of discount chain Two Guys by brothers Sidney and Herbert Hubschman. In 1959 Two Guys acquired O.A. Sutton Company, the manufacturers of Vornado electric fans, air conditioners, and dehumidifiers.
The merged company was named Vornado, Inc. At its peak, the company had 52 Two Guys stores, 240 Foster Freeze restaurants, and 65 supermarkets.
In 1979 a private partnership named Interstate Properties, Inc. acquired a 17% stake in Vornado, and took over the company completely the next year. The new owners focused primarily on the real estate operations of the company.
In 1993 Vornado was transformed into Vornado Realty Trust.
Today the company’s portfolio consists of 105 strip shopping centers and six regional malls in California, the Northeast, and Puerto Rico. The company also owns 1/3 of retail giant Toys “R” Us.
Vornado Realty Trust trades publicly on the New York Stock Exchange under the ticker symbol VNO, is a member of the S&P 500, is #769 in the Fortune 1000, has 4,369 employees, and had $2.55 billion in revenue in 2014.
Vornado Realty TrustVornado Realty Trust is a real estate investment trust (REIT) which can trace its origins to the 1946 founding of discount chain Two Guys by brothers Sidney and Herbert Hubschman. In 1959 Two Guys acquired O.A. Sutton Company, the manufacturers of Vornado electric fans, air conditioners, and dehumidifiers.
The merged company was named Vornado, Inc. At its peak, the company had 52 Two Guys stores, 240 Foster Freeze restaurants, and 65 supermarkets.
In 1979 a private partnership named Interstate Properties, Inc. acquired a 17% stake in Vornado, and took over the company completely the next year. The new owners focused primarily on the real estate operations of the company.
History
In 1993 Vornado was transformed into Vornado Realty Trust.
Today the company’s portfolio consists of 105 strip shopping centers and six regional malls in California, the Northeast, and Puerto Rico. The company also owns 1/3 of retail giant Toys “R” Us.
Vornado Realty Trust trades publicly on the New York Stock Exchange under the ticker symbol VNO, is a member of the S&P 500, is #769 in the Fortune 1000, has 4,369 employees, and had $2.55 billion in revenue in 2014.