Rupert Murdoch’s News Corp. and Fox Corp. have signed 20-year renewals of their leases in their longtime shared headquarters in New York at 1211 Avenue of the Americas.
The updated agreements with Ivanhoé Cambridge, a real estate subsidiary of a Québec investment firm, span 1.2 million square feet of office space.
Together, they represent the largest commercial lease deal of 2022 as well as the biggest in Manhattan since 2019. Along with the interior space, the renewals call for renovations of the plaza and outdoor spaces where Fox Sports and Fox News have hosted broadcasts.
There will also be a new tenant lobby on 47th Street. Renovation work is due to start later this year. In a time of deep uncertainty about the state of office life in general across the U.S., the renewals offer hope for a number of stakeholders, including New York City officials, commercial landlords and local businesses.
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