Vornado Realty Trust is a real estate investment trust (REIT) with holdings in office, retail, hospitality, and residential space. The company's commercial property holdings total more than 100 million sq. ft. of space, primarily in New York City and Washington, DC. The REIT also owns the 1,700-room Hotel Pennsylvania in Manhattan, the 3.6 million-sq.-ft. theMART (formerly the Merchandise Mart) office building in Chicago, and a controlling stake in San Francisco's 1.8 million-sq.-ft. office complex 555 California Street. In addition, Vornado owns about a third each of New York retail property owner Alexander's and big-box toy giant Toys ''R'' Us . The REIT is planning to spin off its DC holdings.