The JACX, a massive 1.2-million-square-foot creative office development in Long Island City has already reached full occupancy months prior to opening, developer Tishman Speyer announced Tuesday.
The company has finalized separate lease agreements with Macy’s Inc. and NewYork-Presbyterian to fill all of the remaining space that was available at The JACX.
The two lease agreements, totaling 328,000 square feet combined, bring The JACX, which consists of two 26-story towers connected by a four-story podium, to 100 percent occupancy prior to the project’s anticipated completion this summer.
Tishman Speyer began construction of The JACX in late 2016 and topped out at 446 feet in October of last year. When completed, The JACX will be the single biggest addition to Long Island City’s office inventory since the Citicorp Building opened in 1990. The massive Queens Plaza district development employs an open loft concept that allows for panoramic views and abundant sunlight.
The towers also incorporate generous ceiling heights, efficient floor plates and advanced infrastructure to create a modern collaborative workspace.
“Tishman Speyer made its first commitment to Long Island City back in 2003 because we recognized it as an authentic urban environment that possessed all of the ingredients for long-term success,” Tishman Speyer President and CEO Rob Speyer said. “Our ability to pre-lease most of The JACX prior to construction and all of the other space prior to completion firmly demonstrates Long Island City’s viability as an office hub and magnet for today’s creative workforce.”
Macy’s Inc., which initially committed to nearly 567,000 square feet at The JACX, expanded its footprint in the towers by another 300,000 square feet for a total of nearly 867,000 square feet as part of its 20-year lease agreement. Bloomingdale’s will occupy a total of 11 floors in the west tower, known as Three Jackson, and Macy’s employees will occupy all 22 tower floors of the east tower known as One Jackson.
In a separate 15-year lease, NewYork-Presbyterian and Weill Cornell Medicine will create a 28,000-square-foot multispecialty primary care practice at One Jackson, staffed with Weill Cornell Medicine physicians. The new location, which will serve Long Island City’s growing residential and commercial population, will include street level entry to a modern medical facility across the entire eastern half of the second podium floor.
The remaining 215,000 square feet of office space on the fifth through 15th floors of Three Jackson will be occupied by WeWork, which committed to The JACX in 2015.
“We are grateful to the city of New York and for pioneers like Macy’s, WeWork and New York-Presbyterian who have helped pave the way,” Speyer said.
