Market Overview

Time Warner Announces New York Real Estate Development Plans

Time Warner (NYSE: TWX) today announced that Time Warner has sold
the 1.1 million square feet of office space it owns in Time Warner
Center for $1.3 billion to a venture of Related Companies, an entity
owned by the Abu Dhabi Investment Authority (ADIA) and GIC. The venture
will lease office space back to Time Warner until early 2019.
Additionally, Time Warner, Related Companies and Oxford Properties Group
announced that Time Warner intends to relocate the Company's corporate
headquarters and its New York City-based employees to Hudson Yards on
the west side of Manhattan, and has accordingly made an initial
financial commitment.

See full press release

Posted-In: News Guidance Contracts FDA Management Global

 

Most Popular

Related Articles (TWX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters