Tishman Speyer today announced that it has secured agreements with three prominent investment firms to occupy a combined 112,000 square feet at The Spiral, its recently-completed 66-story office tower on the West Side of Midtown Manhattan.
Tishman Speyer signed a 14-year lease with global asset manager Marshall Wace to occupy 79,000 square feet across the entire 32nd floor and a portion of the 33rd floor. The firm will begin building out its office at The Spiral later this year in advance of its move from 350 Park Avenue.
In addition, Tishman Speyer secured a 9,000-square-foot lease with ProShares. The Bethesda-based firm, which boasts one of the nation’s largest lineups of electronically-traded funds, will open its first New York City office across a portion of The Spiral’s 28th floor in early 2024.
Tishman Speyer also signed a 13-year lease with a third global asset management firm to occupy 24,000 square feet across a portion of the 34th floor. The international investment management firm will relocate from its current New York City location in early 2024.
“We are pleased to welcome Marshall Wace and ProShares to The Spiral,” said Tishman Speyer Managing Director Amir Sperling. “The Spiral continues to attract industry-leading firms drawn to its inspiring design, biophilic elements, outstanding amenities program and dedication to health and wellness.”
Tishman Speyer has now leased approximately 75 percent of the 2.8 million-square-foot office tower, which is anchored by the world’s pre-eminent biopharmaceutical company, Pfizer. Other prominent companies that have relocated to The Spiral include HSBC, Debevoise & Plimpton LLP, AllianceBernstein, Turner Construction, Baker Tilly and Skandinaviska Enskilda Banken.
Designed by BIG-Bjarke Ingels Group, The Spiral rises to 1,031 feet and features a cascading series of landscaped terraces and hanging gardens as its signature element. The terraces ascend one per floor in a spiraling motion to create a unique, continuous green pathway that wraps around the façade of the tower, supplying its occupants with readily accessible fresh air and outdoor space.
All customers in The Spiral and their guests have access to ZO Clubhouse, a premier amenity center and lounge perched on the top floor of the tower. The Clubhouse features an open-air terrace, panoramic views of New York City, food and beverage service and multiple spaces for meetings, conferences and events. Tishman Speyer has devoted the entire 23rd and 24th floors to its Studio co-working platform, along with its Studio Gather conference center and Studio Private flexible office product.
Tishman Speyer also recently introduced Spiral Suites, offering high-end prebuilt suites ranging from 7,000 square feet to a full floor of 48,000 square feet. The suites feature custom layouts and furnishings, sleek reception areas, and large windows for light-filled workspaces. Occupants have full access to outdoor space and all tower amenities.
The Spiral will be animated at street level by a restaurant showcasing Peruvian-Japanese cuisine from chefs Erik Ramirez and Juan Correa, the team behind critically acclaimed restaurants Llama San and Llama Inn, as well as two new dining concepts from Two-Michelin-starred chef Gabriel Kreuther. The base will also feature a 75,000-square-foot, state-of-the-art outpatient spine center by NewYork-Presbyterian and an HSBC Wealth Center.
The Spiral is easily accessible from all five boroughs, Westchester County and New Jersey. It is in close proximity to New York’s most convenient transit hubs, including Penn Station, the Port Authority Bus Terminal, Midtown Ferry Terminal, Lincoln Tunnel and West Side Highway. The 7 Train is just steps away and three stops from Grand Central Terminal.
Tishman Speyer was represented in-house by Greg Conen and Sam Brodsky in all three transactions. Marshall Wace was represented by Andrew Sachs and Bill Levitsky of Newmark. ProShares was represented by Cynthia Wasserberger and Michael Pallas of JLL.
About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 36 key markets across the United States, Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO, and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 533 properties, totaling 223 million square feet, with a combined value of over $129 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
