SHANGHAI, CHINA-Nike Inc. has announced it will be the first office tenant in the $2.5 billion Tishman Speyer mixed-use project here called The Springs. The Beaverton, OR-based shoe and apparel manufacturer has signed a long-term lease for 587,227 square feet at the office part of the eight-million-square-foot project.
Craig Cheek, VP and GM of the retailer’s greater China region, said in a statement that the new country headquarters will elevate and expand facilities and capabilities for the company, while bringing Shanghai-based employees into one central campus. Nike expects to occupy the new property in the first quarter of 2014.
A company spokeswoman tells GlobeSt.com that Nike has been doing business in China since 1981, and has offices in Shanghai as well as other cities in China and across Southeast Asia, as well as a 2.3-million-square-foot distribution center in Taicang that opened in February 2011. The spokeswoman says the company doesn’t disclose the number of employees or other specifics on square footage.
Tishman Speyer will build the space in up to three office buildings and a multi-purpose conference center, as well as a gymnasium. Shanghai Chengtou Holding Co. Ltd. is the local partner of Tishman, and the firm reportedly has a 36% stake in the project.
The developer broke ground on the Springs in June 2011. The first phase will be 900 units of residential units, which will be available for pre-sale in October 2012, and some accompanying retail. The rest of the property will include two million square feet of office, life-work space, apartments, hotel and retail space, totaling about eight million square feet on 66 acres. Nike will anchor the phase two office part of the project.
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