NEW YORK – 21st Century Fox and News Corp have signed separate leases to stay and expand at their corporate headquarters at 1211 Avenue of the Americas (Sixth Avenue) for another decade. The building houses studios for Fox News Channel.
The midtown office building is owned by Canada’s Ivanhoé Cambridge and its partner, Callahan Capital Properties.
21st Century Fox owns the Fox TV network, Fox News cable network, National Geographic Channel and the Yes Network along with 20th Century Fox movie studio. News Corp. owns Dow Jones and The Wall Street Journal, Realtor.com and The NY Post.
The two companies — which split up in 2013 — signed separate leases, together totaling over 1.2 million square feet to retain each of their corporate headquarters at 1211 Avenue of the Americas, in Midtown Manhattan. The terms of their leases extend through 2025 for Fox and 2027 for News Corp., 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.
Michael McMahon, Senior Vice President, Asset Management, Callahan Capital Properties, said: “We are delighted to be extending the important and long-standing relationship we have with both 21st Century Fox and News Corp at 1211 Avenue of the Americas. 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.”
Jonathan Pearce, Senior Vice President, Leasing, Office North America, Ivanhoé Cambridge added: “This commitment made by Fox and News Corp is a clear vote of confidence in 1211 and Midtown Manhattan.”