Thomson Reuters is exploring the sale of its 50% stake in Manhattan office tower 3 Times Square, becoming the latest media giant to rethink its property holdings, Bloomberg reported. The building is co-owned with Rudin Management. The property spans roughly 885,000 SF, and includes valuable outdoor billboard space.
- Another potential deal in the pipeline: Brookfield is weighing a bid for SL Green’s 410 10th Avenue, a redevelopment office project in Hudson Yards. Amazon (335,000 SF) and First Republic Bank (212,000 SF) have already signed on to anchor the 636,000-square-foot office tower. SL Green has been seeking $1.1 billion for the redevelopment, which is expected to be completed in the third quarter of 2021. [Bloomberg+Bloomberg2]