{"id":1004035650,"date":"2012-01-10T05:14:19","date_gmt":"2012-01-10T13:14:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035636"},"modified":"2022-12-08T15:00:47","modified_gmt":"2022-12-08T23:00:47","slug":"nike-plans-600-ksf-move-to-tishmans-new-shanghai-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nike-plans-600-ksf-move-to-tishmans-new-shanghai-campus\/","title":{"rendered":"Nike Plans 600 KSF Move to Tishman\u2019s New Shanghai Campus"},"content":{"rendered":"<p><strong>January 10, 2012<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<div id=\"attachment_1004035637\" style=\"width: 206px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/01\/011012-Nike-Shanghai-The-Springs-Campus.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004035637\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/01\/011012-Nike-Shanghai-The-Springs-Campus.jpg\" alt=\"\" title=\"011012 - Nike Shanghai The Springs Campus\" width=\"196\" height=\"257\" class=\"size-full wp-image-1004035637\" \/><\/a><p id=\"caption-attachment-1004035637\" class=\"wp-caption-text\">Tishman's The Springs Development in Shanghai<\/p><\/div><\/p>\n<p>Following increased demand for its products in China, Nike Inc. has just announced plans to build a 600,000 square foot corporate campus in Shanghai. The sports-equipment maker has selected Tishman Speyer\u2019s new mixed-use development in the city\u2019s Yangpu District, The Springs, as the campus\u2019 future site. Nike expects to move into the new campus by the first quarter of 2014 and will be the first office tenant in the $2.5 billion development.<\/p>\n<p>According to the company\u2019s financial documents, revenue for all Nike products in China increased from $1.7 billion in fiscal 2010 to $2.1 billion in fiscal 2011, making the country one of the company\u2019s highest-growth markets.<\/p>\n<p>Calling the move \u201ca strategic investment in our continued growth in China,\u201d Craig Cheek, Nike\u2019s vice president &amp; general manager of Greater China, said that the move will unite all Shanghai employees into one central location.<\/p>\n<p>Nike has signed a long-term lease with Tishman for the developer to create more than 587,227 square feet of space in a multi-building campus. When complete, the campus will have up to three buildings, a five-story conference center, basketball court and soccer field. The development is located between Shanghai\u2019s two airports, Hong Qiao and Pu Dong, and will be built along a subway interchange.<\/p>\n<p>According to Nike\u2019s most recent SEC filing, the company creates 33 percent of its footwear in China, making the move one of consolidation. Additionally, Nike saw a 24 percent increase in future orders from the June-to-November quarter when comparing 2010 to 2011.<\/p>\n<p>The Springs is Tishman Speyer&#8217;s largest project in China and follows the development of previous successful commercial projects in Tianjin and Chengdu. The Springs broke ground in June 2011 as a 9.7 million-square-foot green community that will, at completion, feature residential units, commercial, hotel, office and retail space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following increased demand for its products in China, Nike has just announced plans to build a 600,000-square-foot corporate campus in Shanghai that will be located in Tishman Speyer&#8217;s $2.5 billion The Springs development. <\/p>\n","protected":false},"author":1201,"featured_media":1004038484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21781,21782,16,21752,21742,21747,21749],"tags":[],"class_list":["post-1004035650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-corporate-real-estate","category-development","category-international","category-mixed-use","category-latest","category-office","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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