CBS confirms potential sale of broadcast center as developers show interest
CBS Entertainment is considering selling its West 57th Street Broadcast Center and moving to a new location in Manhattan, according to an internal memo obtained by The New York Post. CBS Entertainment president and CEO George Cheeks confirmed that the company has retained a real estate consultant to evaluate the sale of the Broadcast Center and identify a new location for its teams. Although the memo was not intended for public consumption, it marked a departure from the common practice of denying accurate press reports about corporate decisions. At least three major commercial developers/landlords have shown preliminary interest in making a deal with CBS, according to a source. However, CBS is still in the early stages of the process and an eventual move is difficult to predict.
In January, CBS signed an early five-year lease renewal for 281,000 square feet at SL Green’s 555 W. 57th St., a modern office and studio building across the street from the Broadcast Center.
FAQs:
What is CBS Entertainment considering?
CBS Entertainment is considering selling its West 57th Street Broadcast Center and moving to another location in Manhattan.
Who confirmed the potential sale and move?
CBS Entertainment president and CEO George Cheeks confirmed the potential sale and move in an internal memo, which was obtained by The New York Post.
Have any deals been made yet?
No deals have been made yet, but at least three major commercial developers/landlords have expressed preliminary interest in making a deal with CBS.
What is the current location of CBS?
CBS currently operates from their West 57th Street Broadcast Center, but also has a lease for 281,000 square feet at SL Green’s 555 W. 57th St.
Developers express interest as CBS confirms potential sale of broadcast center.
CBS Entertainment is reportedly considering a sale of its West 57th Street Broadcast Center and a move to another location in Manhattan. George Cheeks, the president and CEO of CBS Entertainment, confirmed in an internal memo to staff that the company had hired a real estate consultant to evaluate the possibility of selling the broadcasting center and identifying new premises. The memo was seen by Alexandra Steigrad of the New York Post. Cheeks said the company was in the early stages of this process and it was hard to predict when any potential sale and move would occur.
However, according to an inside source, at least three major commercial developers and landlords had already expressed preliminary interest in making a deal with CBS. As yet, there has been no formal announcement on whether the move will go ahead or which commercial developers or landlords CBS is in talks with.
CBS will remain in the area, keeping its 281,000 square feet in a modern office and studio building across the street at SL Green’s 555 W. 57th St, where it signed an early five-year lease in January.