Pfizer to occupy approximately 800,000 SF at Tishman Speyer’s The Spiral in 2022
New York, NY – April 10, 2018 – Cushman & Wakefield announced today that the real estate services firm represented Pfizer in a transaction relocating its global headquarters from 42nd Street to The Spiral at Hudson Yards. Pfizer is selling the two buildings it currently occupies at 219 and 235 East 42nd Street and will move to Tishman Speyer’s new office tower at 66 Hudson Boulevard in 2022, where it will be the building’s approximately 800,000 square foot anchor tenant occupying floors seven to 21 as well as portions of the ground and mezzanine levels.
Pfizer’s headquarters has been located on 42nd Street on the east side of Manhattan for over 50 years. In 2016, the company announced that it would move its global headquarters in New York City to a cutting-edge, 21st century office environment designed to foster greater collaboration and innovation that would benefit colleagues and clients. Pfizer hired Cushman & Wakefield to develop and execute a plan that would help Pfizer achieve its workplace objectives. A Cushman & Wakefield team led by Executive Vice Chairman, Josh Kuriloff negotiated the leasing portion of the transaction at The Spiral and a team led by Chairman, Adam Spies is arranging for the sale of Pfizer’s current headquarters.
“The intricacies of a headquarters relocation and negotiating an anchor tenant lease at a brand new development is highly complex and takes a thoughtful, strategic plan where all disciplines are perfectly aligned” said Cushman & Wakefield’s Josh Kuriloff. “We are thrilled to see this alignment come together with the world-class developer, Tishman Speyer and Pfizer.”
“Pfizer has a proud and storied history in New York City that began in 1849,” said Albert Bourla, Pfizer Chief Operating Officer. “We are excited that this move will provide our colleagues with a modern, state of the art headquarters that will enable us to continue to fulfill our desire to be the most innovative biopharmaceutical company dedicated to discovering and bringing new therapies to improve the lives of patients around the world.”
The Spiral is a 65-story, 1,031 foot tower in the sought-after Manhattan neighborhood, Hudson Yards. Designed by the esteemed Danish architect, Bjarke Ingels, the property will total 2,800,000 square feet and is designed to create natural, provocative workspaces by providing green terrace space on every floor, efficient floor plates, floor-to-ceiling windows, and double-height spaces throughout. The building will provide two, grand public lobbies fronting Hudson Boulevard Park and Tenth Avenue as well as an exclusive lobby for Pfizer on 34th Street, providing efficient access to urban green space, ground-floor retail offerings and multiple transportation options.
The Spiral will occupy an entire city block between 34th and 35th Streets in the amenity rich Hudson Yards district offering a live-work-play, master-planned community with large open green spaces and abundant hotel, restaurant, retail and health and wellness options. With the High Line and the Hudson River Greenway neighboring the property, Hudson Yards offers a lively, robust and fully amenitized headquarters location. The Spiral has exceptional access to multiple transportation options as it is located adjacent to the 7 train, offering an easy commute from Grand Central Terminal, and is in close proximity to Port Authority, Penn Station, PATH train stations, the west side heliport, as well as multiple ferry and bus lines. The building is also close to the West Side Highway and the Lincoln Tunnel for easy access by car.
The full Cushman & Wakefield team consisted of: John Santora (President, New York Tri-State Region); Josh Kuriloff (Executive Vice Chairman), Matthias Li (Managing Director), and Andrew Braver (Director) of brokerage services; Adam Spies (Chairman), Josh King (Executive Managing Director), and Anthony Pasqual (Director) of Capital Markets; Robert Knakal (Chairman) of NY Investment Sales; Peyton Horn (Executive Managing Director) and Ashley Chase (Senior Associate) of the Strategic Advisory Group; Warren Braverman (Managing Director) and Kevin McCann (Senior Managing Director) of Global Occupier Services; and Deb Moritz (Executive Managing Director) and Michael McDermott (Director) of Strategic Consulting.
Pfizer was also represented by Marc Hurel (Partner) and Evan Babcock (Associate), of the law firm Stroock & Stroock & Lavan LLP.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.