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Related, WarnerMedia in $2B Sale-Leaseback at Hudson Yards

AT&T Inc.’s WarnerMedia unit has agreed to a sale-leaseback of its 1.5-million-square-foot space at 30 Hudson Yards, Bloomberg News reported. The deal is valued at more than $2 billion, according to Bloomberg.

Related and its investment partners would lease back the space to WarnerMedia for 15 to 20 years. Allianz SE and Invesco were among the bidders who held discussions to take a stake in the SLB mega-deal, Bloomberg reported.

Representing WarnerMedia, according to Bloomberg, is Cushman & Wakefield’s Doug Harmon. Harmon also represented WarnerMedia when it sold its headquarters in Columbus Circle to Related in 2014, a deal that served as a springboard for WarnerMedia relocating to Hudson Yards.

The 30 Hudson Yards deal wouldn’t be the first SLB at the Far West Side mega-project. Coach Inc. sold its stake in 10 Hudson Yards to Allianz in 2016.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition