Mergers and Acquisitions

Contentious Comcast/Time Warner Deal Could Save $12.2M in Real Estate ‘Synergies’ [Updated]

The Time Warner Center at Columbus Circle

Comcast expects to save $1.5 billion from “synergies” resulting from its $45 billion merger with Time Warner Cable, including estimated savings of more than $12 million yearly after TWC leaves its Columbus Circle headquarters. 

A report from CoStar Group stated that the anticipated cost-saving measure after the termination of the $91.27 per square foot lease in 2016 would save Comcast about $12.2 million a year. 

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Big Sales

Report: Biggest Three Commercial Sales of 2013 All Top $1B

30 Rockefeller Plaza

There were three whopping commercial deals in New York City last year in the trillion-dollar price range, blowing away the other commercial transactions for the year in terms of price, according to a report by PropertyShark provided exclusively to Commercial Observer

The priciest deal was Comcast’s $1.3 billion purchase of 1.3 million square feet of office and studio space at 30 Rockefeller Plaza, part of the media and communications giant’s $16.7 billion purchase of a 49 percent stake in NBCUniversal from General Electric. Read More

Wired City

Comcast’s Internet Essentials Brings Broadband Access to Five Live-Income Chicago Schools

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Several weeks ago, the United Way partnered with Comcast to create local “learning zones” near five Chicago public schools. The Internet Essentials program will provide enhanced Internet access, training programs, discounted broadband Internet access and free Wi-Fi to low-income families of children enrolled in the schools.

The city’s mayor, Rahm Emanuel, takes credit for the initiative.

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Wired City

Comcast Provides Broadband to 220,000 Low-Income Families

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Last week, Comcast announced that its Internet Essentials program has successfully delivered affordable broadband to more than 220,000 low-income families over the past two years.

The program, which launched in 2011, offers families Internet connection for $9.95/month, computers for $150, and free online training. To qualify, families must have a child eligible for the National School Lunch Program and reside in an area where Comcast offers Internet service, among other minimal requirements.

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Wired City

Google Fiber Proves Supply and Demand Is Still A Thing

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Google Fiber, originally labeled by analysts as an experiment, is expanding in typical Google fashion. The search giant has successfully wired Kansas City and has plans to move into Provo, Utah and Austin, Tex. in the coming months.

Google Fiber offers customers 5 megabits per second (Mbps) download and 1 Mbps upload speeds for free Read More

Wired City

Are Japan and Korea Really Ahead of the U.S. in Broadband?

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In Japan and Korea, top officials create a national governmental policy for broadband, with landlords serving as key players in the process. Many observers talk about the high-speed fiber networks in Japan and South Korea, forgetting the differences between those countries and the United States. Plus, those countries currently enjoy a number of advantages. Roslyn Layton, a doctoral Read More

Wired City

Growth of Fiber Broadband in NYC Not Just Beneficial to Tech Sector: Analysts

Silicon-Alley

High-speed broadband and its potential to enhance productivity are concepts typically associated with tech startups.

Many commercial landlords believe that quicker connection speeds are unnecessary for the majority of their tenants, but the utility provided by fast broadband speeds extends beyond the realm of tech companies. New York is headquarters to corporate offices that advise global empires. Also, many foreign companies maintain a presence in the city. Read More

Sales Beat

Comcast Seals its $1.3 B. Piece of 30 Rock

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Comcast has closed on its $1.3 billion purchase of 1.3 million square feet of office and studio space at 30 Rockefeller Plaza, city records confirm.

The transaction was part of the media and communications giant’s $16.7 billion purchase of a 49 percent stake in NBCUniversal from General Electric, announced last month.

The location, the centerpiece of Rockefeller Center, is host to the property’s annual Christmas tree lighting and inspiration for the title of NBC’s television series “30 Rock.” Read More

Sales Beat

Piece of 30 Rock Part of Comcast’s NBCUniversal Deal

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In one of the largest real estate deals in recent memory, Comcast will purchase from General Electric the properties used by NBCUniversal at iconic 30 Rockefeller Plaza and CNBC Headquarters as part of its acquisition of GE’s remaining 49 percent equity stake in the media company, it was announced earlier this week.

Though the building is owned by Tishman Speyer, the office and studio space at 30 Rock involved in the deal is owned by GE and is considered a commercial condo. GE will keep space in the building on the 52nd and 53rd floors.

The real estate component of the deal accounts for approximately $1.4 billion of the $16.7 billion transaction and trumps the $1.1 billion sale of the Sony Building to the Chetrit Group last month. Read More