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Discovery Channel Inks 150,940-SF Deal

NEW YORK CITY-The Discovery Building will be the new moniker of 850 Third Ave. as the Discovery Channel signs on for 150,940 sf to become the East Midtown site's anchor tenant.

By Barbara Jarvie | Updated on July 27, 2004

NEW YORK CITY-Discovery Communications Inc., parent of the Discovery Channel, has signed a 16-year commitment for 150,940 sf of space at Equity Office Trust’s 850 Third Ave. The company will relocate 365 employees from 641 Lexington Ave., expanding its space by approximately 30%.

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.

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