Private equity giant TPG is the newest tenant at Tishman Speyer’s Spiral building.
TPG will take 301,276 square feet over eight high floors in the Hudson Yards skyscraper, located at 66 Hudson Boulevard, the New York Post reported. An insider said the move is a 20,000-square-foot expansion for the company.
The only larger transaction in October was Bloomberg’s lease of nearly 750,000 square feet at 919 Third Avenue, mostly an expansion of the company’s existing office space.
TPG will relocate from its locations at 888 Seventh Avenue and 245 Park Avenue. Talks of the move were first reported by Bloomberg in July. The deal closed last week.
TPG’s lease marks the city’s largest relocation deal in October.
“Combining our New York footprint into this state-of-the-art space is an important component of our real estate strategy and represents our firm’s continued growth and evolution,” TPG partner and chief operating officer Anilu Vazquez-Ubarri told the outlet.
Other TPG offices are located in Fort Worth, Texas, San Francisco, Chicago, and Washington D.C.
Once referred to as the far west side, Midtown has become a major mover of corporate growth, with the Spiral along with Related’s Hudson Yards and Brookfield’s Manhattan West attracting major corporate players.
Tishman Speyer CEO Rob Speyer told the outlet that the company “designed the Spiral to attract the world’s premier companies from across industries.”
With the closing on TPG’s office space, occupancy at the 2.8 million-square-foot Spiral building is now at 94 percent. Other tenants include US headquarters of HSBC, Pfizer, Debevoise & Plimpton LLP, AllianceBernstein, Turner Construction, and Marshall Wace. The building opened in 2023.
October was a great month for Tishman Speyer, which also negotiated a $3.5 billion refinancing of Rockefeller Center, the highest ever issued for a single office asset.
— Caroline Handel
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