Entertainment media giant Discovery Communications Inc. has signed a new 16-year lease agreement for 150,940 square feet of office space in Manhattan, N.Y.

The value of the transaction was not disclosed.

The company plans to relocate 365 employees and its New York regional office from Lexington Avenue to Equity Office-owned 850 Third Avenue, and expand its office space by 30 percent. Discovery will occupy nearly five floors of the 563,000-square-foot building.

Located in the East side submarket of Midtown Manhattan on Third Avenue between 51st and 52nd Streets, 850 Third Avenue is a 21-story “wedding cake design” building. The newly renovated lobby features statuary marble and terrazzo-tiled floor. Amenities include high-speed internet access, on-site full–service banking, elevators, upscale women’s clothing retailer, sundry shop, copy and messenger center, and a new HVAC system.

Mitchell Konsker of Cushman & Wakefield and Willard Freeman of The Freeman Group represented Discovery in the transaction. Brett Greenberg, managing director of Equity Office’s New York Region, and Paul Glickman, along with David Glassman of Cushman & Wakefield, represented the deal in-house.

Discovery Communications Inc. comprises 33 networks of distinctive programming that represent 14 entertainment brands, including TLC, Animal Planet, Travel Channel, Discovery Health Channel, Discovery Kids, and a family of digital channels.

Equity Office Properties Trust (NYSE:EOP) is a publicly held office building owner and manager in 18 states and the District of Columbia.


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