Megyn Kelly may be leaving Fox News, but the network has re-upped its lease at New York City's 1211 Avenue of the Americas, in Midtown Manhattan.
Ivanhoé Cambridge and its partner, Callahan Capital Properties, announced today that 21st Century Fox and News Corp have signed separate leases, together totaling over 1.2 million square feet to retain each of their corporate headquarters at the building. The terms of their leases extend through 2025 and 2027, respectively, with extension options thereafter.
In the 777,000 square foot transaction with 21st Century Fox, a 649,000 square foot extension will be effective December 2020, while a 128,000 square foot expansion into three upper floors of the building will be effective January 2017 to accommodate the consolidation of other Midtown employees.
The 444,000 square foot lease transaction with News Corp will be effective December 2020.
"The decision by these leading, global media companies to remain at 1211 underscores the quality of the property and the importance of its prime Midtown location," said Michael McMahon, Senior Vice President, Asset Management, Callahan Capital Properties.
Josh Kuriloff, Mitch Arkin and Ethan Silverstein of Cushman & Wakefield represented ownership in the transactions. Mary Ann Tighe,Tim Dempsey, Ken Rapp and Christopher Mansfield of CBRE represented 21st Century Fox and News Corp.