{"id":1004286746,"date":"2018-12-18T00:37:16","date_gmt":"2018-12-18T08:37:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004286746"},"modified":"2022-12-08T18:59:44","modified_gmt":"2022-12-09T02:59:44","slug":"google-grows-manhattan-footprint-with-280-ksf-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/google-grows-manhattan-footprint-with-280-ksf-lease\/","title":{"rendered":"Google Unveils $1 Billion Manhattan Campus"},"content":{"rendered":"

Google will further expand its presence in New York City. The technology company announced on Tuesday that it is assembling a $1 billion, 1.7 million-square-foot campus on Manhattan\u2019s West Side.<\/p>\n

Located in the Hudson Square area of Manhattan\u2019s Midtown South submarket,\u00a0 near the Hudson River, the new urban campus will comprise three sites. Google will take 1.3 million square feet at 550 Washington St., the site of a former rail terminal that is under redevelopment by Oxford Properties Group. The Toronto-based company and its partner,\u00a0Canada Pension Plan Investment Board,\u00a0acquired the site earlier this year<\/a> for $700 million.<\/p>\n

Google will also lease 180,000 square feet at 345 Hudson St., a 980,000-square-foot office property owned by Trinity Hudson Holdings. The joint venture comprises Hines, the ownership’s operating partner; Trinity Real Estate; and Norges Bank Real Estate Management.\u00a0 CBRE’s Howard Fiddle, Paul Amrich, Zac Price and Ben Joseph represented the ownership. Google was represented by another CBRE team including Ken Rapp, Doug Lehman and Brendan Herlihy.<\/p>\n

Jack Resnick & Sons, which is undertaking a $65 million redevelopment of 315 Hudson, unveiled details on Monday of the 280,000-square-foot space which the technology giant will occupy in 2020.<\/p>\n

By leasing floors 6 through 10 as well as a portion of the fifth floor, Jack Resnick & Sons is planning to create a modern and collaborative environment featuring open workspaces and amenities including a rooftop garden, indoor and outdoor event spaces to host clients and community events and a caf\u00e9. Additionally, the building will offer Google a dedicated lobby on the ground floor and a bicycle storage room on the lower level.<\/p>\n

With this deal, the 500,000-square-foot building has reached full occupancy.\u00a0Other notable tenants include Bed Bath & Beyond and Galvanize Inc.<\/p>\n

Located at 315 Hudson St., the property was originally built in 1896 to serve as a nine-story candy factory, and it was expanded in both 1905 and 1911. Jack Resnick & Sons acquired the asset in the 1960s from the Henry Heide Candy Co. and converted it into an office building.<\/p>\n

The ownership\u00a0started an ambitious redevelopment project two years ago. The lobby, which was completed in 2017, features a new glass entry, concierge desk, contemporary artwork and new security turnstiles.\u00a0Jack Resnick & Sons is currently installing all new mechanical systems including a cooling tower, modernized elevators with a destination dispatch system and new windows as part of the second phase of the project.<\/p>\n

\u201cWe recognized about a decade ago that Hudson Square was destined to become a hub for New York\u2019s growing creative, technology and office users,\u201d <\/em>Jonathan Resnick, Jack Resnick & Sons\u2019 president, said in a prepared statement. \u201cWe\u2019ve been hard at work transitioning our buildings to serve the needs of today\u2019s most innovative companies who are looking for large, highly-collaborative spaces located within the city\u2019s most vibrant live-work communities.\u201d\u00a0<\/em><\/p>\n

Major expansion plans<\/h2>\n

In addition to this lease, Google also announced expansion plans at St. John\u2019s Terminal and 345 Hudson Street. The company will take roughly 120,000 square feet in the latter and 1.3 million square feet at 550 Washington St.\u2014home to the Terminal.<\/p>\n

\u201cNew York City continues to be a great source of diverse, world-class talent,\u201d <\/em>Ruth Porat, Google\u2019s senior vice president & CFO, explained in prepared remarks.\u00a0\u201cToday we\u2019re taking the next step in our commitment to our New York City presence by investing over $1 billion in capital improvements to establish a new campus, Google Hudson Square.<\/em>\u201d<\/em><\/p>\n

CBRE\u2019s Ken Rapp, David Hollander, Doug Lehman and Brendan Herlihy worked on behalf of Google in the negotiations. Jack Resnick & Sons\u2019 Brett Greenberg and Adam Rappaport kept things in-house, representing the company along with a Newmark Knight Frank leasing team led by David Falk, Peter Shimkin, Jason Greenstein and Danny Levine.<\/p>\n

Last year, Greenberg took over as Jack Resnick & Sons\u2019 new executive managing director of leasing<\/a>, responsible for marketing efforts at 315 Hudson.<\/p>\n","protected":false},"excerpt":{"rendered":"

The tech giant announced it will occupy 1.7 million square feet at three locations in the Hudson Square neighborhood to create Google Hudson Square. <\/p>\n","protected":false},"author":451,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21782,21808,1600,21742,10,21747],"tags":[36086,36351,32789,33286,32797,35143,36007,36561],"class_list":["post-1004286746","post","type-post","status-publish","format-standard","hentry","category-brokerage","category-deals","category-development","category-featured","category-new-york","category-latest","category-northeast","category-office","tag-adam-rappaport","tag-capital-improvement","tag-cbre","tag-google","tag-hines","tag-jack-resnick-sons","tag-newmark-knight-frank","tag-norges-bank-real-estate-management"],"acf":[],"yoast_head":"\nGoogle Unveils $1 Billion Manhattan Campus - 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