Hines Expanding 345 Hudson Office With 15K SF at Adjacent 555 Greenwich
By Mark Hallum May 29, 2024 9:20 am
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Hines is nearly doubling its Hudson Square office space by linking its current digs at 345 Hudson Street to another 15,000 square feet in an adjacent building, Commercial Observer has learned.
The Houston-based real estate investor and developer currently has 17,000 square feet on the 12th floor of 345 Hudson. It plans to connect that to a new section of office at 555 Greenwich Street, Hines said. It developed and owns both properties in a joint venture Trinity Church Wall Street and Norges Bank Investment Management.
“[555 Greenwich] connects directly to each of the floors at 345 Hudson, so you have the ability to take a floor on its own or take space at 555 Greenwich and then open up into 345 Hudson,” Sarah Hawkins, CEO of the East region for Hines, told CO. “We will be the first tenant to do that.”
Hines signed a 12-year lease but did not disclose the asking rent in the development. Average asking rent for Class A office in Midtown South was $103.42 per square foot, according to a Colliers report.
CBRE (CBRE)’s Paul Amrich, Howard Fiddle, Neil King, Zac Price and Ben Joseph brokered the deal for both sides. CBRE declined to comment.
Command Financial Press was located at 345 Hudson from 2013 until it left for the Financial District in 2019.
“The existing building at 345 Hudson was used for housing large-scale printers, so we have very high ceiling heights, large expansive windows, so the feel of the building is really authentic and you get a lot of access to natural light,” Hawkins said.
The 270,000-square-foot, 16-story office tower at 555 Greenwich, designed by Cookfox Architects, is also an example of sustainable construction with 33,000 square feet of outdoor space across 11 terraces, geothermal piles and thermally active radiant slabs, according to Hines.
Construction began in 2021 and wrapped in October 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
