Time Warner will soon send tri-state landlords a request for proposals as it seeks some 4 million square feet of office space, the Wall Street Journal reported. It represents the first step in the firm’s search for space as its leases at 1100 and 1270 Sixth Avenue near their end. It also owns office space in Columbus Circle.
Time Warner has 6,500 full-time employees and is considering space in about 20 sites, including the World Trade Center, Hudson Yards and other Far West Side developments, including Manhattan West. Previous reports have indicated that the media giant might opt to trade its coveted Columbus Circle space for a larger block in Related’s Hudson Yards, where it could consolidate operations.
Time Warner would also consider cost-cutting moves to New Jersey and Connecticut. The Journal said the company hopes to have a deal in place by the end of this year. [WSJ, 1st item]