The Real Deal New York

Bloomingdale’s takes 550K sf at Tishman Speyer’s LIC project

Developer recently secured funding for 28-10 Queens Plaza South
July 12, 2016 04:10PM

29-10 Queens Plaza and Bloomingdales on 1000 Third Avenue

28-10 Queens Plaza and Bloomingdale’s on 1000 Third Avenue in Midtown East

Bloomingdale’s agreed to sign a 550,000-square-foot office lease to anchor Tishman Speyer’s new Long Island City development, according to a report.

The retailer will join co-working company WeWork, which leased 250,000 square feet at 28-10 Queens Plaza South.

Tishman Speyer TRData LogoTINY on Monday announced it would start construction of the 1.1 million-square-foot development, which will feature two 27-story office buildings connected by a four-story structure that will include retail space and a food hall. Investment firm Qatari Diar, an offshoot of Qatar’s sovereign wealth fund, is an equity partner on the project and Bank of the Ozarks provided the construction loan.

Last summer, Tishman Speyer reached a deal with Bloomingdale’s parent company, Macy’s, to buy the office floors above its Downtown Brooklyn department store at 422 Fulton Street, as well as a parking garage, for $170 million[Crain’s]Konrad Putzier