April 3, 2019
AT&T Inc.’s WarnerMedia unit has agreed to a sale-leaseback of its 1.5-million-square-foot space at 30 Hudson Yards, Bloomberg News reported. The deal is valued at more than $2 billion, according to Bloomberg.
Related and its investment partners would lease back the space to WarnerMedia for 15 to 20 years. Allianz SE and Invesco were among the bidders who held discussions to take a stake in the SLB mega-deal, Bloomberg reported.
Representing WarnerMedia, according to Bloomberg, is Cushman & Wakefield’s Doug Harmon. Harmon also represented WarnerMedia when it sold its headquarters in Columbus Circle to Related in 2014, a deal that served as a springboard for WarnerMedia relocating to Hudson Yards.
The 30 Hudson Yards deal wouldn’t be the first SLB at the Far West Side mega-project. Coach Inc. sold its stake in 10 Hudson Yards to Allianz in 2016.
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