Real Estate. Drama.
Dana Rubinstein Dec. 14, 2009, 5:38 p.m.
A&E, which is flying high with the launch of a new Jackson family reality show series, not to mention its curiously popular Steven Seagal vehicle, Lawman, is apparently feeling antsy.
The cable channel once known as Arts & Entertainment, which also owns Lifetime, has retained Robert Alexander, tristate chairman of real estate behemoth CB Richard Ellis, to scout for about 300,000 square feet of new office space, according to two industry sources.
A&E has been headquartered since 1991 in 180,000 square feet at the kinda shlocky 235 East 45th Street, according to the real estate database CoStar. The building is owned by the Hearst Corporation, which is also an owner of A&E.
Meanwhile, Lifetime has a relatively new long-term lease for 50,000 square feet on the second floor of Taconic Investment Partners’ 111 Eighth Avenue, between 15th and 16th streets, the stylish office building that also houses Google.
The extent of A&E’s search is said to depend on whether subsidiary Lifetime can sublease its space at the media-popular 111 Eighth. If not, the network may significantly reduce its space requirements.
Either way, the cable network will have no shortage of options in this glutted office marketplace.
Neither a spokeswoman for A&E nor Mr. Alexander would comment for this story.