News Corp., 21st Century Fox Renew NYC Leases

By IvyLee Rosario

1211 Ave. of the Americas

New York—Ivanhoe Cambridge and its partner, Callahan Capital Properties, announced 21st Century Fox and News Corp. have both renewed leases at 1211 Ave. of the Americas in Midtown Manhattan. Totaling more than 1.2 million square feet, 21st Century Fox’s 777,000-square-foot transaction of its corporate headquarters will be extended an extra 649,000 square feet effective December 2020, while a 128,000-square-foot expansion into three upper floors of the building goes into effect January 2017. News Corp.’s 440,000-square-foot transaction will be effective in December 2020.

1211 Avenue of the Americas is a 44-story, 2 million-square-foot Class A office tower with direct access to the Rockefeller Center Concourse, as well as having the Grand Central Terminal, the Port Authority Bus Terminal and Penn Station within walking distance. The building is LEED Gold-certified and Energy Star-designated.

“Together, 21st Century Fox and News Corp. are among the largest tenants across our global platform,” said Arthur Lloyd, president of office for North America, Ivanhoe Cambridge, in prepared remarks. “We look forward to working together to ensure 1211 continues to provide exceptional solutions and services for their evolving needs.”

Josh Kuriloff, Mitch Arkin and Ethan Silverstein of Cushman & Wakefield represented ownership in the transactions. Mary Ann Tighe, Tim Dempsey, Ken Rapp and Christopher Mansfield of CBRE represented 21st Century Fox and News Corp. The terms of the leases extend through 2025 and 2027, with extension options at the end.

Image courtesy of Yardi Matrix