Not really surprising that they're weighing all of their options, just thought I'd share. It should be noted, their current headquarters the Time Warner Center on Columbus Circle, is a Related building as are the Hudson Yards, so that existing relationship should be a plus. But I still bet they end up at the Hudson Yards. Related has said they're willing to break even on the office space, so it'll be significantly cheaper office space than other new New York office buildings. What's top office space rent for on the west coast? Just wondering.
Time Warner Will Consider Office Space Outside New York in Real Estate Review
2:17 PM PST 1/5/2012 by Georg Szalai
"Time Warner management is optimistic that 2012 can be a strong year for the entertainment conglomerate, CFO John Martin told an investor conference in San Francisco on Thursday.
He also said that the company will consider new office space not only inside of, but also outside of New York City as it reviews its current real estate with an eye on reducing costs when current leases expire in the coming years...
...Asked about potential real estate cost savings in New York, Martin said TW currently occupies 10 buildings with more than 8,000 employees and spends roughly $300 million on office space a year. It owns its headquarters, the Time Warner Center. With most leases up around 2017, the company previously said though that it is approaching the market to look for new space that would allow it to save money and consolidate operations.
..."We are going to be looking to essentially get the best deal for future space and…look for space that is in a terrific environment for our employees to work in," Martin said. But he also emphasized: "We can't just limit it to New York City. We are going to be looking at other areas, too, because unfortunately the environment that we are operating in is we can't be blind to cost of doing business. And operating in New York City is extremely expensive, so we are going to be aggressive and looking around in any number of places."