Time Warner Will Move HQ to Hudson Yards
BY SAM SPOKONY | Calling it a move to “New York’s next great neighborhood,” media giant Time Warner announced on Jan. 16 that it will relocate its corporate headquarters to Hudson Yards.
In a news release that day, the company said it will acquire more than one million square feet of space at 30 Hudson Yards, a planned 80-story tower that will be located at the southwest corner of West 33rd Street and 10th Avenue. Approximately 5,000 employees from three Time Warner businesses — HBO, Turner Broadcasting and Warner Bros. — are expected to occupy the new office space by 2018.
The move comes on the heels of Time Warner’s $1.3 billion sale of its current 1.1 million square feet of space at the Time Warner Center, in Columbus Circle. That space was purchased by a jointly controlled entity that includes Related Companies — the development group which is itself a joint owner of the Hudson Yards development.
Time Warner will now become the anchor tenant at 30 Hudson Yards, the first office tenant to be officially offered space within the planned 1,227-foot-tower.
“By consolidating our space to Hudson Yards, New York’s next great neighborhood, we will be able to reallocate substantial savings to our primary business of creating and sharing great storytelling in television, film and journalism with audiences around the world,” said Time Warner Chairman and CEO Jeff Bewkes, in a statement released with the announcement.
And in another statement, Related Companies Chairman Stephen Ross expressed optimism about the impact this major move will have on the future of Hudson Yards, which passed its first year of construction in December.
“Time Warner is again showcasing its innovative and pioneering spirit in anchoring 30 Hudson Yards,” said Ross. “Hudson Yards will be home to some of the most iconic brands in business and we are thrilled at the prospect of once again working with Time Warner to not only build a best-in-class headquarters site but also a community.”
Twitter Takes Two, on 17th
A little birdie called @CrainsNewYork let the cat out of the bag:
@Twitter is taking over 140k square foot of space at 245 & 249 W. 17th St.
For Chelsea news, 140 characters at a time: