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News America signs 230,000 sf lease.

JMB Realty Corporation announced last week that it has signed Rupert Murdoch's News America Publishing Inc. to occupy 230,000 square feet at 1211 Avenue of the Americas.

The 15-year lease, which comprises the second, third, fourth, and fifth base floors of the 45-story tower, is the largest Manhattan office leasing transaction so far this year.

News America Corporation was represented by Edward S. Gordon Company managing director David W. Levinson. JMB, the owner of the building, was represented by JMB Senior Vice President Joseph T. Wright. Wright had told REW that they were about to sign a lease with a major 200,000-square-foot tenant (June 3).

The space will serve as News America's U.S. headquarters and will house East Coast offices of The News Corporation Limited's entertainment subsidiary Fox, Inc., The company's two American magazines -- TV Guide and Mirabella will also operate out of the building.

News America Publishing is the U.S. subsidiary of The News Corporation Limited.

In 1990, Murdoch came close to signing a lease for nearly 1 million square feet at David and Jean Solomon's 1585 Broadway. His operations have since been scaled down and some holdings have been sold.

Formerly, the Celanese Building, 1211 Avenue of the Americas was purchased by the Chicago-based real estate giant four years ago.
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Title Annotation:News America Publishing Inc. leases 230,000 square feet at 1211 Avenue of the Americas, New York, New York
Publication:Real Estate Weekly
Date:Jun 10, 1992
Words:216
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