Firm served as project manager for the Chinese news agency’s new North American headquarters facility
NEW YORK, , NY – September 8, 2011 – (RealEstateRama) — Jones Lang LaSalle has completed the interior build-out for Xinhua News Agency’s new North American headquarters on the top floor of 1540 Broadway. The Chinese news agency leased 18,500 square feet on the 44th floor of the 1.1 million-square-foot, Class A office building in mid-2010.
The company’s Project and Development Services group was tapped in June 2010 by Xinhua News Agency to serve as project manager for the build-out of its new offices at 1540 Broadway. The project team completed a gut renovation of the technologically complex project in approximately eight months. The company’s North American headquarters was designed to blend traditional Chinese culture with a modern New York corporate space design.
The Jones Lang LaSalle project team was led by Rachna Desai, project manager, and Dayana Rivero, associate project manager, and includes Randy Apfelbaum, vice president, and John Andrin, senior project manager. The PDS group worked closely with general contractor Nucor Construction Services LLC and architectural firm Applied Design Initiative LLC. The company tapped Pennoni Engineering and Surveying of New York, P.C., TSG Communications and Syska Hennessy Group Inc. to incorporate the complex engineering, broadcasting and information technology required for Xinhua’s new offices. John Ryan III, managing director, and Paul Mas, executive vice president, of Jones Lang LaSalle represented Xinhua News Agency in its lease at the building.
“Xinhua News Agency was looking to create a merger of an advanced broadcasting facility with modern corporate office space that reflected its Chinese heritage and a modern New York sensibility,” said Rachna. “Its North American headquarters will also serve as the standard for the design of the company’s other locations in the region and internationally. The company tapped Jones Lang LaSalle to oversee the project due to its work with the China Center at One World Trade Center. In June 2010, the firm also represented Xinhua News Agency in its lease of the space at 1540 Broadway.”
“Xinhua toured the market extensively and focused on 1540 Broadway due to stable ownership and incredible views of Times Square,” said Ryan. “Xinhua was able to conclude its lease prior to the recent market spike for rents for choice high floors in Midtown.”
The space includes private offices, an open work station area, conference rooms, a pantry area, broadcasting infrastructure, and a double-height, multipurpose atrium and reception area that can be converted to a broadcasting studio. The atrium displays Xinhua News Agency’s history and function through an interactive video wall and video band that use innovative audio-visual techniques. The atrium, private offices and conference rooms provide extensive views of the world-famous Times Square and the Times Square Ball. In addition, television cameras are installed on the roof of 1540 Broadway to allow Xinhua News Agency to broadcast expansive views of Times Square and much of Manhattan.
Located in the heart of Times Square, 1540 Broadway was built in 1990. Formerly known as the Bertelsmann Building, the multiuse property was designed by Skidmore, Owings and Merrill. The office building also has a retail component that includes a Planet Hollywood and Forever 21.
Jones Lang LaSalle is a leader in the New York tri-state commercial real estate market, with more than 1,700 of the most recognized industry experts offering brokerage, capital markets, facilities management, consulting, and project and development services. In 2010, the New York tri-state team completed approximately 17 million square feet in lease transactions, completed capital markets transactions valued at $861 million, managed projects valued at more than $5.8 billion, and oversaw a property and facilities management portfolio of 83.5 million square feet.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
Contact:
George Shea, Mark Faris
Company: Shea Communications
Phone: +1-212-627-5766
Email: mfaris (at) sheacommunications (dot) com
