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Tishman Speyer Leases Up LIC Office Project with Macy’s Expansion

Tishman Speyer has finalized separate lease agreements with Macy’s and NewYork-Presbyterian (NYP) for the remaining space at The JACX, its 1.2 million-square-foot creative office development in Queens’ Long Island City neighborhood. Totaling 328,000 square feet, the leases bring the project to 100% occupancy ahead of completion.

Macy’s initially leased 567,000 square feet at The JACX, and has added 300,000 square feet in the project’s west tower to house Bloomingdale’s operations. In the east tower, NYP and Weill Cornell Medicine will create a 28,000 square-foot, multi-specialty primary care practice.

“Our ability to pre-lease most of The JACX prior to construction, and all of the space prior to completion, firmly demonstrates Long Island City’s viability as an office hub and a magnet for today’s creative workforce,” said Tishman Speyer’s Rob Speyer.

Macy’s was represented by CBRE’s Scott Gottlieb, Ken Meyerson, Michael Wellen and Peter Gamber.  Tishman Speyer and NYP were represented in-house.

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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 13-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 15-20 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 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).

Step 1: Select Education
  • ◦Development
  • ◦Lease