(NEW YORK) - Hudson Square Properties, a joint venture of Trinity Church Wall Street, Norges Bank Investment Management, and Hines, today celebrated the topping out of 555 Greenwich, a 270,000-square-foot, 16-story office tower which will seamlessly combine with 345 Hudson to create 87,000-square-foot floor plates in a one-of-a-kind horizontal overbuild. The topping out marks a significant milestone toward the complex's completion in 2023, at which point 555 Greenwich + 345 Hudson will align to form a singular full-block building. With unparalleled opportunities for personalization, an anchor tenant can prioritize a workplace experience that drives innovation through office spaces built to inspire new legacies, and building amenities designed to strengthen connection and culture. The burgeoning Hudson Square neighborhood, nestled in between the West Village, Soho, and Tribeca and steps from the Hudson River Greenway, is quickly establishing itself as a premier destination for thought leaders like Google and Disney to put down roots.
“With design and amenities that place tenant experience and wellness at the forefront, 555 Greenwich is an integral advancement in the continued development of the thriving Hudson Square neighborhood,” said Tommy Craig, Senior Managing Director of Hines. “This campus serves as a powerful blueprint for the workplace of the future, with unparalleled flexibility, outdoor space and collaborative areas, as well as an innovative combination of sustainability features unmatched by any other offerings on the market.”
555 Greenwich employs a groundbreaking combination of wellness and sustainability-forward features, including geothermal and radiant heating and cooling, full electrification to eliminate the on-site use of fossil fuels, and dedicated outside air system (DOAS) to provide 100 percent outside air to tenants. While 345 Hudson has been selected by the New York State Energy Research and Development Authority (NYSERDA) as a partner in the prestigious NYSERDA Empire Building Challenge, Hines and its partners will design and implement a replicable system that dramatically reduces carbon emissions in existing commercial real estate. Upon completion of the combined offering, 555 Greenwich + 345 Hudson will exceed NYC’s 2030 climate targets for office buildings by over 45 percent while meeting NYS’s 2050 carbon neutral targets. The building is targeted to achieve the highest rating (LEED Platinum) for sustainability.
“From its architectural harmony with 345 Hudson and the neighborhood to leading metrics on sustainability, the 555 Greenwich + 345 Hudson campus reflects the importance our entire venture places on stewardship and multi-generational thinking,” said Sujohn Sarkar, Managing Director, Asset Management, Trinity Church Wall Street. “Our partnership’s value alignment and diverse perspectives led to a holistic approach to energy efficiency and carbon reduction that we hope can provide a roadmap for similar buildings.”
Designed by COOKFOX Architects, 555 Greenwich will include retail at the ground floor and office space above. The combined complex will feature over 33,000 square feet of outdoor space via 11 outdoor terraces allowing for access to greenspaces and natural light via floor-to-ceiling windows. The addition will fit together seamlessly with 345 Hudson, yielding breathtaking views of the city and Hudson River, impressive 87,000 square-foot floorplates, and a nearly endless array of possible leasing configurations and office sizes.
For additional information, please visit 555Greenwich-345Hudson.com.
About Trinity Church Wall Street
Now in its fourth century, Trinity Church Wall Street is a growing and inclusive Episcopal parish of more than 1,200 members that seeks to serve and heal the world by building neighborhoods that live Gospel truths, generations of faithful leaders, and sustainable communities. The parish is guided by its core values: faith, integrity, inclusiveness, compassion, social justice, and stewardship. Members come from the five boroughs of New York City and surrounding areas to form a racially, ethnically, and economically diverse congregation. More than 20 worship services are offered every week at its historic sanctuaries, Trinity Church and St. Paul’s Chapel, the cornerstones of the parish’s community life, worship, and mission, and online at trinitywallstreet.org. The parish welcomes approximately 2 million visitors per year.
About Norges Bank Investment Management
Norges Bank Investment Management manages approximately $27 billion in direct real estate investments on behalf of the Norwegian Government Pension Fund Global, totaling $1,300 billion of assets across equity, fixed income, real estate, and unlisted renewable infrastructure. The fund’s mission is to safeguard financial wealth for future generations. Norges Bank Investment Management continues to invest in three target asset classes –office, retail, and logistics. Investments in office and retail are focused across a limited number of global cities in Europe, the US and Asia that have key fundamentals including transparency, liquidity, supply restrictions and the potential for economic growth. Investments in logistics are located across Europe and the US with a strategic focus on proximity to large metropolitan markets and key global distribution networks. The fund owns direct real estate investments totaling nearly 800 assets across 13 countries. In the US, the fund owns direct real estate investments across 22 million square feet of office and retail properties in New York City, Boston, Washington DC, and San Francisco. Visit https://www.nbim.no/ for more information.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2021.
About COOKFOX Architects
COOKFOX Architects is a New York-based architectural and interior design studio. COOKFOX has built a studio focused on high-performance, environmentally responsive design and is well-known for innovative design at the highest standards of environmental performance. COOKFOX focuses on biophilic design to create architecture that supports physical health and mental wellness. With a portfolio of diverse residential, workplace, and education projects, COOKFOX seeks to pursue architecture that restores, regenerates, and elevates our collective experience of the urban environment. www.cookfox.com
About AECOM Tishman
AECOM Tishman is one of the world's leading builders, spanning over 100 years and responsible for managing construction of more than 600 million square feet, including iconic projects such as the World Trade Center, Manhattan West, One Vanderbilt, and Hudson Yards. AECOM Tishman is part of AECOM, the world's premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we deliver what others can only imagine at aecom.com and @AECOM.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction, and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Jaros, Baum and Bolles (JB&B)
In over 100 years of practice, JB&B has maintained its position as a global engineering firm at the forefront of the MEP industry. Our insight into market trends and technological innovation has allowed us not only to be prime movers of that growth within the industry, but to effectively respond to those needs by expanding our service line to include specialty services such as low-voltage, smart buildings, Direct Outdoor Air System (DOAS), carbon reduction, integrated field services under JB&B Field, and architectural lighting design through our division, LightBox Studios. JB&B is a 300-person New York City-based firm with offices in Lower Manhattan, Boston, and Philadelphia www.jbb.com.