Norfolk, VA (PRWEB) July 19, 2010
New York City’s most beloved, best-read and largest circulation newspaper, the New York Daily News, and U.S. News & World Report Media Group, the preeminent national multi-platform digital publisher of news, rankings and analysis, will be moving their respective headquarters to 4 New York Plaza, the iconic 25-story office tower located at the southeast corner of Water and Broad Streets in the Financial District. The long-term lease is for two entire floors, comprising 100,000 square feet.
“We’re very much looking forward to the relocation of the New York Daily News and the U.S. News & World Report Media Group to 4 New York Plaza,” said Mortimer B. Zuckerman, Chairman and Publisher of the New York Daily News, and Chairman and Editor-in-Chief of U.S. News & World Report. “These are first-rate accommodations in the heart of the city’s financial district with superb amenities. This location will provide our employees with a modern new home.”
The building’s owner, an affiliate of Harbor Group International, LLC, the Norfolk-based real estate investment and management firm, was represented by CB Richard Ellis’ Howard Fiddle, vice chairman, and Bradley P. Gerla, executive vice president. Representing the tenant on the transaction was Cushman & Wakefield’s John Cefaly, vice chairman, and Michael Burgio, executive vice president.
“It is an honor to have such prestigious publications as major tenants in our building,” said Jordan E. Slone, Chairman and CEO of Harbor Group International. “In the six months since purchasing 4 New York Plaza, we have achieved 85 percent occupancy with three significant long-term tenants. It speaks volumes about the desirability of the building and bodes exceptionally well for the future of Downtown.”
The New York offices of the New York Daily News and U.S. News & World Report are currently headquartered at 450 West 33rd Street in the Hudson Yards area and expected to move to 4 New York Plaza by July 2011. Their new home is convenient to all forms of public transportation, and close to the New York Stock Exchange, South Street Seaport and other key downtown destinations.
The Class-A office property consists of 1,085,000 rentable square feet on 1.2 acres. The building features large floor plates of 50,000 square feet and has an on-site cafeteria with seating for up to 650-people. JPMorgan Chase occupies 75 percent of the building, and is also on a long-term lease.
About Harbor Group International, LLC
Harbor Group International, LLC is a private real estate investment and management firm that controls a portfolio of worldwide assets valued in excess of $2.7 billion. Headquartered in Norfolk, VA, it has offices in New York, Chicago, London, Toronto and Tel Aviv. Its real estate holdings include over 9.6 million square feet of commercial space and more than 15,000 apartment units. Additional information about Harbor Group International may be found at http://www.harborgroupint.com.
About the New York Daily News
The New York Daily News is the largest and most widely-read newspaper in the New York City metropolitan area. It was founded in 1919 and has won 11 Pulitzer Prize Awards for excellence in journalism. The Daily News is the fifth largest Sunday newspaper and the sixth largest daily newspaper in the United States. The Daily News has the largest combined print and online audience of any metropolitan newspaper in the country. NYDailyNews.com is the sixth most visited newspaper website in the United States.
About U.S. News & World Report Media Group
The U.S. News & World Report Media Group is a multi-platform digital publisher of news and analysis, which includes the monthly U.S. News & World Report magazine, the digital-only U.S. News Weekly magazine, http://www.usnews.com, and http://www.rankingsandreviews.com. Focusing on Health, Money, Education, and Politics & Policy, the U.S. News & World Report Media Group has earned a reputation as the leading provider of service news and information that improves the quality of life of its readers. The U.S. News & World Report Media Group’s signature franchises include its News You Can Use® brand of journalism and its “America’s Best” series of consumer guides that include rankings of colleges, graduate schools, hospitals, health plans and more.