Time Warner Inc. has sold 1.1 million square feet of office space it owns in Time Warner Center for $1.3 billion to a venture led by Related Cos. Partners Abu Dhabi Investment Authority and Singapore’s sovereign wealth fund financed more than 80 percent of the acquisition. Time Warner will lease back the space from Related until early 2019, when it plans to move its corporate headquarters down to Hudson Yards.
Eastdil Secured represented Time Warner in the sale. Studley will represent Time Warner in its planned acquisition of space in Hudson Yards, while Related and Oxford will tap CBRE Group Inc.March – Briefs/Sales & Development
Related StoriesTime Warner Is Planning a Move to Hudson Yards
Breaking News: Time Warner Sells 1.1 MSF Office Space to Related Cos.