Via Joe Schulz on Flickr
Columbus Circle’s Time Warner Center will be renamed the Deutsche Bank Center, Commercial Observer reported on Monday. The name change comes as the Deutsche Bank inked a deal for 1.1 million square feet at the complex. The 25-year lease gives the German bank all available office space at the building except on its 20th floor.
Related Companies developed the Time Warner Center, a two-tower building of mixed-use offices, in 2003. With Time Warner’s impending relocation to Hudson Yards next year, Related, along with GIC of Singapore and Abu Dhabi Investment Authority, bought back the offices in 2014 for $1.1 billion.
The complex’s south tower at 25 Columbus Circle, features luxury condominiums, and the north tower, at 80 Columbus Circle, contains apartments from the Mandarin Oriental Hotel. The building is home to CNN’s New York City headquarters, five-star restaurants, and high-end retail.
The New York Post first reported Deutsche Bank’s interest in moving to the building in January. The bank’s current headquarters are located at 60 Wall Street and are expected to move into the complex in the third quarter of 2021.
At over one million square feet, the real estate deal is the second-largest lease of the year. The asking rent has not yet been made public.
[Via Commercial Observer]
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