Negotiation Expertise Secures Broadcast Studio
Cushman & Wakefield was engaged by NBC Universal to evaluate the disposition of their 64-year-old, 66,000-square-foot, owned broadcast studio on 26.5 acres in Fort Worth. The expectation was to relocate into a new state-of-the-art broadcast facility that would be more efficient and position the firm to compete for the next several decades.
After performing due diligence on several existing buildings and land sites, NBC selected a master developer for Centreport, just south of DFW International Airport. NBC Universal was able to purchase 8.1 acres. Additionally, Cushman & Wakefield was able to negotiate and secure significant incentives, including tax abatements with the creative solution of deeding the owned facility to the City of Fort Worth in exchange for additional incentives.
The final lease concluded with a 75,000-square-foot build-to-suit including a Purchase and Sale Agreement. Construction commenced in July 2012 and is scheduled to be completed on time during the fourth quarter of 2013.