Summary List Placement
AT&T is reevaluating the huge New York City headquarters of WarnerMedia, multiple sources familiar with the company’s real-estate plans told Business Insider.
The process could result in a substantial downsizing of the 1.5 million square foot space at 30 Hudson Yards on Manhattan’s far West Side, where the mass media and entertainment conglomerate has both its own corporate offices and space for key subsidiaries such as HBO and production studios for the news network CNN.
A person directly involved in the evaluation warned that no decision had yet been reached to shed space. A spokesman for WarnerMedia, Jeff Cusson, told Business Insider that there were no current plans to downsize. A spokeswoman for AT&T declined to comment.
Read More: Facebook scored a $100 million break on its blockbuster NYC office deal, and it could mark the start of a wave of discounts as vacancies soar.
AT&T, however, is expected to complete its review of the space early next year, at which point it will decide whether to cast portions of the sprawling headquarters onto the market for sublease. It has hired the real-estate services firm CBRE to help it complete what it is calling a “strategic review” of the …read more
Source:: Businessinsider – Finance