News Corp. inks lease for Charles Schwab space at existing HQ

November 23, 2011 11:17AM

News Corp. has signed a 15-year lease for the former Charles Schwab space in the southern plaza of the media company’s Rockefeller Center headquarters at 1211 Sixth Avenue, the New York Post reported, beating out Emirates Airlines, which had also been interested in the property. The company will likely build a 9,000-square-foot studio in the space, the Post said, though its exact plans were not immediately clear.

Beacon Capital, the building’s owner, had reportedly been marketing the space through Cushman & Wakefield for $525 to $625 per square foot, or $4 million a year.

Gene Spiegelman, David Tricarico and Mitch Arkin of Cushman & Wakefield represented Beacon in the deal, while News Corp. was represented by Mary Ann Tighe, Ken Rapp and Tim Dempsey of CBRE.

Meanwhile, Beacon is still trying to find a buyer for 1211 Sixth Avenue. As previously reported, recent solicited bids came in around 16 percent below the property’s asking price. [Post]