NEW YORK, July 11, 2016 /PRNewswire/ — Tishman Speyer CEO Rob Speyer announced today the company is moving ahead with construction of a 1.1 million square foot office and retail project in Long Island City. More than 800,000 square feet of the available office space in the development has been pre-leased, including 250,000 square feet to WeWork, the world's largest provider of shared office space. Tishman Speyer is being joined in this development by Qatari Diar, a prominent global investor in world class real estate.
This project concludes Tishman Speyer's purchase of 1.8 million square feet of development rights from the City of New York, which included a 700,000 square foot office building that Tishman Speyer completed in 2011 and pre-leased in its entirety to the New York City Department of Health & Mental Hygiene. Today's announcement completes the City's vision for the transformation of this site into a new center of the innovation economy.
Original article posted on: PR Newswire for Tishman Speyer