Discovery Chooses Manhattan for New Global Headquarters

Discovery has recently signed a lease at 230 Park Avenue South, a 362,000-square-foot Manhattan office building, which is going to become the company’s new global headquarters. The move will begin in the fall of 2019, and continue through mid-2020, as the leading real-life entertainment provider plans to relocate its current headquarters from Silver Spring, Md., to New York and consolidate the existing Big Apple office locations into a new single space.

230 Park Avenue South (Property Shark)

According to the New York Post, Discovery had been searching for a New York location ever since March, when it acquired Scripps for $12 billion. The company will be moving out of 850 Third Avenue and 1180 Avenue of the Americas in Midtown Manhattan, as well as out of its Chelsea Market location at 75 Ninth Avenue, and moving all the employees into the new office.

The new workspace at 230 Park Avenue South will feature a collaborative environment, exposed ceilings, natural light, a ground-floor studio and production space, a rooftop terrace, a wellness center and a dedicated lobby. TF Cornerstone, the building owner, will invest $40 million in upgrading it before Discovery moves in. Reportedly, the new space will no longer incorporate the current Chase Bank in the base.

Discovery was assisted in this deal by a JLL team consisting of Cynthia Wasserberger, Michael Berg, Joe Judge and Hayley Shoener, while the landlord was represented by Cushman & Wakefield’s Bruce Mosler, Ethan Silverstein, Mark Mandell and John Peters.

“The New Discovery is transforming into a different kind of global media company, and where and how we work is a critical foundation for our future success and growth,” said David Zaslav, President and CEO of Discovery. “We are energized by our fantastic new home in New York—the media capital of the world—where we will write our company’s next chapter. We look forward to bringing our world-class employees together in a creative and collaborative workspace in one of Manhattan’s most vibrant and dynamic neighborhoods.”

View Source: https://www.propertyshark.com/Real-Estate-Reports/2018/07/05/discovery-chooses-manhattan-for-new-global-headquarters/

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