"China's BBC" Establishes U.S. Broadcast Center and Headquarter's at 1540 Broadway
CB Richard Ellis Agency Now 84 Percent Leased Since March 2009
New York, NY – July 6, 2010 – CB Richard Ellis announced today that China's broadcast company, Xinhua (Shin-wa), has leased 18,600 square feet for broadcast studios and office space at 1540 Broadway, Manhattan. The deal establishes Xinhua's U.S. headquarters and brings the 907,427-sq.-ft. Times Square tower to 84% percent leased.
Xinhua is expected to occupy the top of 1540 Broadway, the 44th floor, directly overlooking Times Square, with its television broadcast antenna on the building's roof. Often referred to as "The BBC of China," Xinhua will take occupancy in the fourth quarter 2010.
The tenant was represented by John Ryan and Paul Mas, of Jones Lang LaSalle. The CBRE leasing team for 1540 Broadway consists of Mary Anne Tighe, CEO, New York Tri-State Region; Howard Fiddle, vice chairman; Eric Deutsch, executive vice president; Jason Pollen, senior vice president; Christie Harle, senior associate; and Chris Levinson, senior analyst.
"With the addition of Xinhua to 1540 Broadway, ownership has leased 80,000 sq. ft. of an available 229,000 sq. ft., virtually completing a fantastic leasing turnaround story that played out over the last two years of the worst economic downturn of our lifetime," said Mr. Fiddle. "The repositioning of 1540 Broadway by CBRE Investors, particularly through its unique 5-Star Worldwide Services Center for tenants, has been a tremendous success for the midtown and Times Square markets." An additional 74,000 sq. ft. of tower space remains available, added Mr. Fiddle.
Among the tenants relocating to 1540 Broadway recently are Adobe (27,000 sq. ft.), Equinix Operating Co., Inc. (8,737 sq. ft.), Brand Connections (5,794 sq. ft.), DH Capital (4,474 sq. ft.) and Morris Anderson & Associates (2,817 sq. ft.).
The 5-Star Worldwide Services Center goes far beyond traditional tenant services by providing a full array of integrated, on-site amenities and support that make conducting business easier and more cost effective. The 5-Star Center at 1540 Broadway is located on the 8th floor and includes a cafeteria, concierge services, conference space, fitness center and wi-fi lounge. Tenants can also access the full range of services at the 5-Star Centers in Atlanta, Chicago, Dallas, San Francisco and Washington, D.C. More information is available at www.5-starworldwide.com/home.axis.
You can find this and other CBRE New York Tri-State Region Communications and Research information at
www.cbre.com/nytristatemediamagnet.
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CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company for three years in a row. Please visit our Web site at www.cbre.com.
