Hines Celebrates Groundbreaking on Signature Office Property… - Hines

Hines Celebrates Groundbreaking on Signature Office Property 7 Bryant Park

New York City Mayor Michael Bloomberg Joins Hines, Pacolet Milliken and J.P. Morgan to Mark the Event

(NEW YORK) – Hines, the international real estate firm, along with partners Pacolet Milliken Enterprises, Inc. and institutional investors advised by J.P. Morgan Asset Management, held a groundbreaking ceremony today on the site of 7 Bryant Park, an iconic new trophy-class office tower in Midtown Manhattan.

Among the prominent public officials attending the event was New York City Mayor Michael R. Bloomberg who said, “The best days are still to come to Bryant Park – a place the city has worked hard to bring roaring back to life. 7 Bryant Park is set to become another iconic tower, and it will bring more top-tier, cutting-edge commercial space, and more leading companies and their tax revenue to Midtown Manhattan.”

“7 Bryant Park will create thousands of good-paying union jobs at a time when our economy needs it most,” said City Council Speaker Christine C. Quinn. “I welcome this project to our city and look forward to its completion.”

“7 Bryant Park is a building that will make New Yorkers proud,” said Congresswoman Carol B. Maloney, who represents the New York boroughs of Manhattan, Queens and Brooklyn. “It’s creating good jobs right here in the heart of midtown, attracting top companies and skilled workers from around the world. It is a welcome addition to the Big Apple’s growing list of modern, innovative, environmentally sustainable office buildings that will help keep New York a world-class business destination while preserving the urban oasis that is Bryant Park.”

Turner Construction Company, the general contractor, began construction at the end of 2012, and first occupancy is planned for the first quarter of 2015.

Designed by renowned architects Henry N. Cobb and Yvonne Szeto of Pei Cobb Freed & Partners, the 28-story, 470,000-square-foot steel and glass tower will offer direct and expansive views of Bryant Park as well as the historic New York Public Library.

“We are privileged to develop a project of such distinguished design at this exceptional location, bringing a first-in-class office tower to the heart of Midtown Manhattan’s business district,” said Tommy Craig, senior managing director of Hines’ Tri-State operations. “This preeminent property will serve as a singular opportunity for a major tenant seeking both a significant branding presence and new technologies to create an efficient, modern and forward-thinking workplace.”

“Our company and its ownership families are excited to be part of this signature

project, which will further enhance the Bryant Park community and contribute beautifully to the New York City skyline,” said Pacolet Milliken President Richard C. Webel.

“This well-conceived project has all of the key ingredients we look for, including an experienced developer and operator with a proven track record in Hines, a respected and responsible partner in Pacolet Milliken and a compelling and attractive location at the doorstep of New York’s Bryant Park,” said Kevin Faxon, head of Real Estate Americas for J.P. Morgan Asset Management – Global Real Assets.

7 Bryant Park, located between West 39th and 40th streets on the site of the former 1045 Avenue of the Americas, will include 10-foot finished ceilings, full-height clear vision glass, two spacious outdoor tenth-floor terraces overlooking the park and multiple top-floor opportunities including the possibility for a signature “duplex” penthouse­ with outdoor space and sweeping views of the park – one of the most unique office opportunities in Manhattan. The building is LEED® Gold Pre-certified, and will incorporate the infrastructure and technology tenants require for their businesses to excel in the 21st century.

The orientation of the steel and glass tower will capitalize on direct views over the park and past the historic New York Public Library. The building’s entrance façade will be punctuated by a concave sculptural detail which cuts into the building in an hourglass shape, distinguishing the design and creating unique feature windows on every tenant floor. A floating stainless steel disc, measuring 46 feet in diameter, will be suspended over the corner entrance at 40th Street, serving as both a canopy and an architectural gesture facing the park, creating a memorable welcome point for tenants and their visitors.

Along with the premier location and state-of-the-art design, 7 Bryant Park will offer flexible interior customization options as well as signature opportunities for corporate branding for anchor tenants. With an impressive 90 feet of frontage on Avenue of the Americas, the ground floor at 7 Bryant Park will offer select retail tenants a variety of incredible branding opportunities and prominent exposure in one of New York City’s most highly trafficked neighborhoods. CBRE is serving as the exclusive office leasing agent for the building, with the firm’s CEO for the Tri-State Region, Mary Ann Tighe, leading the team. RKF, led by Chairman and CEO Robert Futterman, is serving as the exclusive retail leasing agent.

Pacolet Milliken Enterprises, Inc. is a private, family-owned investment company with a history that dates back, through Milliken & Company, to the 1860s. In addition to urban office property, Pacolet Milliken has divisions that operate regulated and merchant utility businesses, undeveloped land and forestry, and income real estate in the southeast U.S.

J.P. Morgan Asset Management – Global Real Assets has approximately $64.8 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia, as of December 31, 2012. With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad

capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed includes 1,208 properties representing more than 488 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 379 properties totaling 137 million square feet, which includes 66 million square feet for third parties. With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

Visit www.hines.com for more information.

Photo (L-R): Tommy Craig, senior managing director, Hines; Yvonne Szeto, partner, Pei Cobb Freed & Partners; Chris Hughes, senior managing director, CEO – East Region, Hines; Phil Norwood, director, Pacolet Milliken Enterprises; Henry Cobb, founding partner, Pei Cobb Freed & Partners; Gerald Hines, founder and chairman, Hines; New York City Mayor Michael Bloomberg; Jeffrey Hines, president and CEO, Hines; Robert Steel, Deputy Mayor for Economic Development, New York City; Mary Ann Tighe, CEO, NY Tri-State Region, CBRE, Inc.; Richard Webel, president, Pacolet Milliken Enterprises; Kevin Faxon, head of Real Estate – Americas, J.P. Morgan Asset Management; Peter Davoren President and CEO, Turner Construction Company; Elizabeth Propp, managing director, J.P. Morgan Asset Management.

Contact Hines

Headquarters

Global Headquarters

2800 Post Oak Blvd.
Houston, TX 77056-6188
United States
1 713 621 8000
Contact Hines

European Headquarters

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900

Regional Offices

U.S. East Region

345 Hudson Street
12th Floor
New York, NY 10014
United States
1 212 230 2300

U.S. Midwest Region

444 West Lake Street
Suite 2400
Chicago, IL 60606
United States
1 312 419 4900

U.S. Southeast Region

5 Ravinia Dr NE
Atlanta, GA 30346
United States
1 770 206 5300

U.S. Southwest Region

609 Main St.
Suite 2400
Houston, TX 77002
United States
1 713 237 5600

U.S. West Region

101 California Street
Suite 1000
San Francisco, CA 94111
United States
1 415 982 6200

Asia Pacific Region

1 Connaught Road, 28F
Central, Hong Kong

Eurasia Region

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

European Region

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900

International Offices

Australia

20 Hunter St
Level 10
Sydney, NSW 2000
Australia
61 2 9232 3137

Brazil

Av. das Nações Unidas, 12901
Torre Norte - 6 ° andar
São Paulo 04578-910
Brazil
55 11 5504 7600

Canada

200 King Street West
Suite 1805
Toronto, ON M5H 3T4
Canada
416 595 1949

China

Suite 333, Hyundai Motor Tower
38 Xiaoyun Road, Chaoyang District
Beijing, PRC 100027
China
8610 8453 8855

France

66 Avenue Charles de Gaulle
Neuilly-sur-Seine, IDF 92522
France
33 1 41 45 80 80

Germany

Hines Immobilien GmbH
Joachimsthaler Str. 1
D - 10623 Berlin
Germany
49 30 726241 100

Greece

Voukourestiou 19
Athens 106 71
Greece
30 210 364 7895

India

One Horizon Center
12th Floor
Gurgaon, Haryana 122002
India
91 124 480 2222

Ireland

Block 2, First Floor
Clanwilliam House, Clanwilliam Place
Dublin 2
Ireland
353 1 7999900
Dublin.OfficeAdmin@hines.com

Italy

Via Broletto, 35
Milan 20121
Italy
0039 02 8962921

Japan

Akasaka K Tower Level 4
1-2-7 Motoakasaka, Minato-ku
Tokyo 107-0051
Japan
81 90 9854 5236

Luxembourg

35 F, John F. Kennedy
Luxembourg L-1855

352 264 337 1

Mexico

Torre del Angel
Reforma 350
Mexico D.F. 06600
Mexico
52 55 52428809

The Netherlands

Gustav Mahlerplein 28
Amsterdam, NH 1082 MA
Netherlands
31 6 30 70 81 29

Nordic Countries

Forbindelsesvej 4
Copenhagen 2100
Denmark
44 7815 285 191

Panama

Torre B Piso 15
Torre de las Americas
Punta Pacifica, Panama City
Panama
507 028 20 7375

Poland

Prosta Street 68
Warsaw 00-838
Poland
48 22 351 2400

Russia

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

Spain

Sor Ángela de la Cruz, 2° - 2° C
Edificio Cuzco III
Madrid 28020
Spain
34 91 703 00 23

South Korea

Glass Tower, Level 20
534 Teheran-ro, Gangnam-gu
Seoul 06181
Republic of Korea
82 2 3439 9141

United Kingdom

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900