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Brookfield Lights the Lamp in Power Play to Net NHL in 160,000 SF at One Manhattan West

NYC Scores Major League Hat-Trick in 4Q as National Hockey League Signs Long Term Prelease for Headquarters Space, Retail Experience
December 7, 2016
Brookfield Property Partners LP (NYSE: BPY) has signed a long-term lease with the National Hockey League (NHL) to locate its headquarters to the in-development One Manhattan West office tower at 400 W. 33rd St. in New York City.

The NHL is the third major sports league to sign office leases in Manhattan this quarter, following Rockefeller Group's 400,000-square-foot lease with Major League Baseball at 1271 Sixth Ave. and the National Basketball Association's 175,000-square-foot renewal at the Oxford/Crown JV-owned 645 Fifth Ave.

The NHL has agreed to occupy roughly 160,000 square feet on five floors of the new tower in addition to a 15,000-square-foot retail lease for an NHL Store to feature fan experiences within the central retail corridor of Manhattan West.

The 67-story, 2.22 million-square-foot, 5-Star office tower broke ground in June 2015 with an anticipated delivery date in early 2019, within Manhattan's Penn Plaza / Garment District submarket, between Ninth and Tenth Avenues.

"Manhattan West will be a vibrant and distinctive community, and we are thrilled that the NHL will be a part of it," said Ric Clark, senior managing partner and chairman of Brookfield Property Group. "The leadership and employees of the NHL will benefit not only from the modern features and prime location of One Manhattan West, but also the unparalleled mix of retail and dining amenities and the beautiful public plaza that will be central to Manhattan West."

Manhattan West is a seven-acre, six-building, master-planned, mixed-use complex within Manhattan's new Hudson Yards district. Bounded by 9th and 10th Avenues and 31st to 33rd Streets, Manhattan West will feature more than 5 million square feet of class A office space, luxury apartments, a boutique hotel, curated retail amenities, culinary options and two acres of open space with landscaped gardens and dynamic street-front retail, all enlivened by Arts Brookfield - Brookfield's award-winning arts and entertainment program. A 62-story, 844-unit luxury residential tower will open in spring 2017 above 50,000 square feet of retail and amenity space.

One Manhattan West is rising on the northeast corner of the site. The NHL will join anchor tenant Skadden Arps Slate Meagher & Flom LLP in the building, which is now 40 percent pre-leased. It is the first office building to start in the development, with Two Manhattan West planned for a future groundbreaking. Two other commercial buildings comprise the remaining office space, with Five Manhattan West completely renovated and re-imagined as collaborative urban space and 'The Lofts,' a boutique, 13-story building with concrete slabs and exposed I-beam columns.

"The NHL is excited and pleased to be one of the initial tenants at Manhattan West, locating our U.S. headquarters to the 'new' West Side," said NHL Commissioner Gary Bettman. "The growth and momentum of our game and our business require a state-of-the-art facility; with its terrific amenities, including an NHL store, our new building will be that -- and more. Our staff, guests and fans will have a special connection to Manhattan West and the NHL."

Michael R. Laginestra, Michael Geoghegan, Chris Corrinet and Zach Weil with CBRE represented the NHL in lease negotiations. Bruce Mosler, Josh Kuriloff, Robert Lowe, Mikael Nahmias and Ethan Silverstein with Cushman & Wakefield represented the landlord along with Jerry Larkin, Duncan McCuaig, Kathleen Kane, Michael Goldban, Mark Kostic and Matt McCandless with Brookfield's in-house leasing team.

Brookfield Property Partners, a commercial real estate company with $66 billion in total assets, has established placemaking developments in cities around the world - mixed-use complexes that combine office space, luxury residences, innovative retail and dining amenities, and active public spaces. Manhattan West will be Brookfield’s sixth such development globally, joining Brookfield Place New York in Lower Manhattan, Brookfield Place Toronto, Brookfield Place Perth, Canary Wharf in London and the soon to be completed Brookfield Place Calgary.
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