Time Warner is in talks with the creator of its Columbus Circle namesake for another new headquarters on Manhattan’s Far West Side. According to the Wall Street Journal, the Related Companies is pitching Time Warner on a piece of its $15 billion Hudson Yards development project, less than 10 years after the company moved into its Time Warner Center headquarters.
Related, which built the Time Warner Center, is now said to be offering Time Warner the chance to save money and consolidate operations with a move to Hudson Yards, where the developer is planning 12.9 million square feet of office, retail and residential space and has been on the hunt for corporate anchor tenants in order to begin construction. (Coach is also reportedly a contender for about 600,000 square feet of space).
The Real Deal reported in October that Time Warner tapped Studley to review its New York City office portfolio requirements.
Related has said it would allow the first Hudson Yards office tenants to move in at the cost of development, with the first phase ready by 2017. Time Warner currently has 5 million square feet of office space in New York City, including the 1 million square feet it owns at the Time Warner Center. Another 2 million square feet of Manhattan leases for the company expire in 2017 and 2018. [WSJ]