Charter Communications (NASDAQ: CHTR) plans to ditch the 75,000-square-foot Manhattan headquarters of new acquisition Time Warner Cable, Charter has confirmed.
The move will be made at the end of the year, when TWC's current lease on the property expires. All centralized TWC operations will be pulled into Charter's Stamford, Conn. headquarters.
About 350 TWC employees work in the building. Charter hasn't said how many of them will be retained.
The news was first reported by the New York Post.
TWC occupied floors 16 and 17 of the twin-towered Columbus Center building. Its departure will create the property's first vacancy since it opened in 2003. The Post says the asking rent will be $150 a square foot.
TWC was spun out of Time Warner Inc. in 2009. Time Warner has a lease agreement to stay in the building through 2019.
For more:
- read this New York Post story
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