DCI will occupy nearly five floors in the 563,000-sf building which is known for its unique "wedding-cake" design. The advertised rent for the site, which will now be known as the Discovery Building, ranges from $38 per sf to $46 per sf. DCI is taking space vacated by Instinet earlier this year.
Pandit Wright, Discovery's senior executive vice president of human resources and administration, says the company was attracted to the building's flexible floor plates and solid infrastructure. "We knew the space had the ability to accommodate the way we work and our needs for future growth." At 641 Lexington, DCI was housed in a number of floors with smaller floor plates. The 21-story 850 Third features basic floor plates of 38,000 sf and tower floor plates of 12,000 sf.
The site has undergone some major renovations of late. The newly renovated lobby features statuary marble and terrazzo tiled floor. Amenities include high-speed Internet access, on-site full–service banking, state-of-the art elevators, a upscale women's clothing retailer, sundry shop, copy and messenger center, and a new HVAC system. A new backup generator will be installed this year.
Mitchell Konsker of Cushman & Wakefield and Willard Freeman of the Freeman Group represented Discovery, while Brett Greenberg, managing director of Equity Office's New York Region, and Paul Glickman along with David Glassman of worked the deal in-house.
"This building provided our client with the flexibility to expand, the ability to develop a cohesive working environment, and access to more amenities," notes Konsker. The Discovery Channel, first launched in the US in 1985, to current global operations in 152 countries with 180 million subscribers. Equity Office Properties Trust has a portfolio of 684 buildings comprising 123.1 million sf in 18 states and Washington, DC.
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