With a gleaming new office building at St. John’s Terminal in Hudson Square, Google is putting other space in the neighborhood up for sublease.
The tech giant is seeking to sublease 165,000 square feet at 345 Hudson Street, the New York Business Journal reported. The building is owned by Hines, Trinity Church Wall Street and Norges Bank Investment Management.
“We’re taking a measured approach to ensure our real estate investments meet the current and future needs of our business,” a Google spokesperson told the publication.
There’s more than 400,000 square feet available at the 980,000-square-foot 345 Hudson Street, according to CBRE marketing materials. No asking rent was provided, but the average for the neighborhood is $88.89 per square foot, according to Avison Young.
Google signed its lease at 345 Hudson in 2018 as part of the company’s push for an office campus in the neighborhood, which also extended to 315 Hudson Street and 550 Washington Street, otherwise known as St. John’s Terminal. In 2021, Google purchased the latter for $2.1 billion, which remains a high watermark for Manhattan’s post-pandemic office market.
Google’s revamped property opened last February. The ribbon cutting was attended by New York Gov. Kathy Hochul.
Google has office space across the city. In the fall, the company renewed 300,000 square feet at Vornado Realty Trust and Related Companies’ 85 Tenth Avenue, where the asking rent was $100 per square foot. That’s across the street from Google-owned Chelsea Market at 75 Tenth Avenue.
Google also has space across the West Side Highway at Pier 57.
In January, tenants signed deals for 3.6 million square feet of office space, almost 1 million square feet beyond the volume leased last January, according to a Colliers report. Leasing volume surged 24 percent from December.
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