YIMBY has word that Tishman Speyer has finalized lease agreements for all 1.2 million square feet of its recently completed office development known as “The JACX,” in Long Island City. While the property has not officially debuted, the building’s list of tenants includes Macy’s, Inc., New York-Presbyterian, Bloomingdale’s, WeWork, and a primary care practice operated by Weill Cornell Medicine.
28-10 Queens Plaza South
Construction has been slow-moving this year for the JACX development in Long Island City, Queens. Two 26-story towers are rising at 28-07 Jackson Avenue and 28-10 Queens Plaza South, and the pair will yield new office space marketed toward the technology sector. Images for the site reveal construction has risen as high as the twelfth floor, an increase of eight floors since January. Tishman Speyer and Qatari Diar are responsible for the development.
A rendering has been revealed of Tishman Speyer’s planned two-tower, 1.1-million-square-foot office complex at 28-07 Jackson Avenue (a.k.a. 28-10 Queens Plaza South), in the Queens Plaza section of Long Island City. The towers – dubbed One and Three Gotham Center – will stand 27 stories, or 396 feet, in height. As YIMBY reported in June, new building applications indicate a common four-story base will include roughly 30,000 square feet of retail space, restaurants, a food hall, and a parking garage for cars and bikes. The rendering also depicts an outdoor terrace on the fifth floor. 800,000 square feet of office space in the complex has already been pre-leased. One tenant includes WeWork, which is set to take 250,000 square feet. Another is Bloomingdale’s, which has reserved 550,000 square feet of office space, Crain’s reported. Doha-based Qatari Diar is co-developing the project, while Financial District-based MdeAS Architects is designing. Excavation is expected to begin in early 2017, with completion scheduled for 2019. One and Three Gotham Center will join the 22-story, 700,000-square-foot Two Gotham Center located immediately to the north. Tishman Speyer developed that in 2011.
Tishman Speyer is now working to develop two more office towers on the same block as Two Gotham Center, the 22-story office building the developer built in 2011 at 42-09 28th Street, in Long Island City’s Queens Plaza section. According to The Real Deal, one of the buildings, dubbed One Gotham Center, will be a 29-story, 583,000-square-foot property with 20,000 square feet of retail space. It will include 200 parking spaces. Last year, WeWork signed a lease for 200,000 square feet of space in it. The second building, dubbed Three Gotham Center, will be a 30-story, 515,000-square-foot property with 11,000 square feet of retail space. WeWork has already leased 258,000 square feet of space in Three Gotham Center, according to EB-5 documents. The developer hopes to accumulate $145 million in financing from the EB-5 program. A targeted completion date has not given.