The new transaction brings the subsidiary of Time Inc.'s lease commitment to 30,757 sf of space at Metro Center, W&M officials report. Jeffrey H. Newman, executive vice president of W&M Properties, the marketing and management agent for the building, announced the new deal, which marks Media Networks' third expansion/extension since becoming a tenant in 1989.
Media Networks will occupy an additional 3,888 sf on the fifth floor for an 11-year, three-month term. W&M Construction will build out the additional space for the tenant. Media Networks' additional space was previously leased to Sungard Treasury Systems.
Newmark & Company Real Estate represented Sungard Treasury Systems in the lease buyout transaction. W&M Properties represented the building owner in the lease buyout and new lease deal with Media Networks. Colliers ABR Inc. represented Media Networks in the transaction.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
