Warner Music's New HQ
Last week, WMG Acquisition Corp leased 300k SF in Paramount's 1633 Broadway for parent company Warner Music Group's HQ.
We snapped 1633 Broadway this morning. The lease will run from Jan. 1, 2014 to July 31, 2029, and has a single option for a five- or 10-year extension, according to the SEC filing. "Under certain conditions" the tenant has a right of first refusal on additional space. Rent will total $16M/year plus taxes and expenses, and free rent and TIs are part of the deal.