On Spec Brings a Check | News | Tishman Speyer


On Spec Brings a Check

The Wall Street Journal, Plots & Ploys December 18, 2013

In 2010, Tishman Speyer Properties LP started construction on its first of three planned office towers in central Brasilia, beginning a long hunt for tenants to fill the tower. Three years later, the company's search is over. The result is the largest lease in the history of Tishman Speyer, one of the world's biggest office landlords.

The New York-based firm said Tuesday it had signed a lease with Banco Do Brasil for the first building and the two other planned towers, on which the company broke ground last year. The total size of the lease for the complex, named Green Towers, is about 953,000 square feet. The bank plans to consolidate locations from around Brasilia into the Tishman towers.

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