Warner Music weighs move to 7 West 34th Street

TRD New York /
Jun.June 05, 2013 05:30 PM

Warner Music Group is eyeing a 225,000-square-foot space at the Vornado Realty Trust-owned 7 West 34th Street, Crain’s reported. Warner currently has space at 75 Rockefeller Center, and faces a deadline with its lease expiring next year.

Still, the company is also looking over options to move elsewhere, sources familiar with the office search told Crain’s.

RXR Realty assumed control of 75 Rockefeller last year. The plan is to vacate the property, renovate it and score higher rents from the next generation.

Meanwhile, asking rents at the Vornado building are in the $40s to $50s per square foot.

Warner also has space at 1290 Sixth Avenue, which Vornado owns as well. If this 7 West 34th Street deal proceeds with the same landlord, then Warner can get out of its commitment at the other space, Crain’s said.

Also, if this deal goes through, it would be the second recent notable lease for the REIT. Facebook inked a 10-year lease at Vornado’s 770 Broadway, as reported this week. [Crain’s]Zachary Kussin


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

 Li Ge and 220 Central Park South (Credit: WuXi Biologics and Getty Images)

Biotech billionaire pays $26M for 220 CPS pad

220 Central Park South and Vornado chairman Steven Roth (Credit: Google Maps and Getty Images)

Another $60M condo closes at 220 Central Park South

220 Central Park South (Credit: Getty Images)

Vornado’s 220 Central Park South closes $64M condo sale

Vornado chairman Steven Roth (Credit: Getty Images)

Vornado slashes Forever 21’s rent, dimming 2020 outlook

Facebook CEO Mark Zuckerberg and Apple CEO Tim Cook with a rendering of the Farley development (Credit: Getty Images, SOM iStock)

Facebook facing off with Apple over space in Vornado’s Farley Building conversion

arrow_forward_ios