Discovery Signs On For New HQ On Park Avenue South
Discovery Communications has signed a deal to move its new headquarters to Manhattan.
The Maryland-based company is taking 362K SF at TF Cornerstone’s 230 Park Ave. South for its new headquarters after announcing it would leave its current home in Silver Spring, Maryland, earlier this year.
The cable giant bought Scripps, the owner of the Food Network and HGTV, in a $12B deal in back in March. It is now officially consolidating its offices in the Park Avenue South building, the New York Post reports.
The new offices will feature open-plan workspaces and a terrace, according to the Post. Asking rents in the building are reportedly in the high $70s to low $80s per SF.
The company had been weighing taking space at 441 Ninth Ave. and 1250 Broadway for the new location, but the 434K SF building at 230 Park Ave. South won out because of its proximity to media and tech companies in Midtown South.
In New York, Discovery leases approximately 160K SF at 850 Third Ave. Its HQ has been in Silver Spring since 2003. It plans to move out of its 545K SF headquarters at One Discovery Place, taking 1,300 employees with it.
Scripps has offices at 1180 Sixth Ave. and Chelsea Market at 75 Ninth Ave., which sold earlier this year to Google.
JLL’s Cynthia Wasserberger, Michael Berg and Joe Judge represented Discovery. Cushman & Wakefield’s Bruce Mosler, Ethan Silverstein and Mark Mandell brokered the deal on behalf of the landlord.