October’s biggest relocation lease was the move of private equity firm TPG to an eight-story high rise in Tishman Speyer’s Spiral, known as 66 Hudson Boulevard.
Its 301,276 square feet was second in size only to Bloomberg’s 749,000 square feet at 919 Third Ave. which was mostly expansion space in the same place.
TPG will move from 888 Seventh Ave. and 245 Park Ave. The talks were first reported by Bloomberg in July.
An insider said the move marks a modest, 20,000-square-foot expansion for the firm. The deal brings the 2.8 million-square-foot Spiral to 94% leased to tenants including Pfizer, the US headquarters of HSBC, Debevoise & Plimpton LLP, AllianceBernstein, Turner Construction and Marshall Wace.
It’s a remarkable record for a building that opened barely two years ago on what used to be called the Far West Side.
Now, of course, the land of Related’s Hudson Yards, Manhattan West and the Brookfield Spiral no longer seem exotic or distant, but a major driver of Midtown’s corporate growth.
TPG partner and chief operating officer Anilu Vazquez-Ubarri said New York “is now the largest location in our global network of offices,” which includes San Francisco, Fort Worth, Texas, Chicago and Washington, DC.
She said, “Combining our New York footprint into this state-of-the-art space is an important component of our real estate strategy and represents the continued growth and evolution of our firm.”
She added, “Hudson Yards is a hub for leading global businesses and we are pleased to bring our teams together in a space that offers ample opportunity for continued growth, collaboration and connection.”
October was a banner month across the board for Tishman Speyer.
The TPG deal came on the heels of Tishman’s $3.5 billion refinancing of Rockefeller Center, the Midtown landmark that was built some 80 years before the Spiral.
CEO Rob Speyer said his company “designed the Spiral to attract the world’s leading companies from all industries.”
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