It’s official: Time Warner Inc. has sold office space within the Time Warner Center. It’s leasing it back, and later moving to Hudson Yards.
The company giant has sold the 1.1 million square feet of office space it owns in Time Warner Center for $1.3 billion to a venture of Related Cos., owned by Abu Dhabi Investment Authority and GIC Pte, Singapore’s sovereign wealth fund, both of which agreed to finance more than 80 percent of the acquisition, according to news sources...
Eastdil Secured represented Time Warner on the sale of its office space at Time Warner Center. Studley is representing Time Warner, and CBRE is representing Related and Oxford with respect to Time Warner’s planned acquisition of space in Hudson Yards for its new corporate headquarters.Breaking News: Time Warner Sells 1.1 MSF Office Space to Related Cos.
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