WeWork Takes 260K SF at TH Real Estate’s 21 Penn Plaza
TH Real Estate, an affiliate of Nuveen, the investment management arm of TIAA, leased 258,344 square feet at 368 Ninth Ave. in New York to WeWork. The coworking operator will occupy space across 10 floors at 21 Penn Plaza, a 16-story, 380,000-square-foot office building at Ninth Avenue and West 31st Street.
TH Real Estate’s Nadir Settles says, “TH Real Estate purchased this property with the intention of redeveloping an underutilized asset into a Class A asset with amenities. WeWork’s creative concept attracts high level tenants, and we look forward to extending our relationship with them through this lease.”
The Midtown West asset sits within close proximity to Penn Station, Hudson Yards, and Chelsea neighborhoods, allowing easy access to transportation hubs and West Side housing and retail areas.
JLL brokered the deal.
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