NIKE (NKE) to Build New China HQ in Shanghai’s Yangpu District
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Price: $94.53 -1.26%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 1.5%
Revenue Growth %: +0.7%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 1.5%
Revenue Growth %: +0.7%
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NIKE, Inc. (NYSE: NKE) reports plans for the development of a new centralized campus for Nike’s employees in Shanghai, China.
The nearly 600,000 square foot headquarters will be built at The Springs, Tishman Speyer’s newest mixed-use development in Shanghai’s Yangpu District. Nike’s investment in developing this new centralized campus will support its long-term business growth strategy in China, where it celebrated 30 years of business in 2011. The Springs is Tishman Speyer’s largest project in China and follows the development of previous successful commercial projects in Tianjin and Chengdu.
Nike has signed a long-term lease with Tishman Speyer, one of the world’s leading owners, developers, operators and investment managers of first-class real estate on the project. Tishman Speyer will construct the more than 587,227 square feet (approximately 54,575 square meters) of space in a multi-building campus. Nike said when complete, the campus within The Springs will consist of up to three office buildings and a five-story multi-purpose conference center, in a campus-type setting. Along with the commercial buildings, it will feature a soccer pitch and regulation-size indoor basketball court and state-of-the-art work-out facility. The campus will also include a full service food and beverage facility and a standalone conference center to host large-scale events and product unveilings. Nike expects to occupy the new space starting in the first quarter of 2014.
The nearly 600,000 square foot headquarters will be built at The Springs, Tishman Speyer’s newest mixed-use development in Shanghai’s Yangpu District. Nike’s investment in developing this new centralized campus will support its long-term business growth strategy in China, where it celebrated 30 years of business in 2011. The Springs is Tishman Speyer’s largest project in China and follows the development of previous successful commercial projects in Tianjin and Chengdu.
Nike has signed a long-term lease with Tishman Speyer, one of the world’s leading owners, developers, operators and investment managers of first-class real estate on the project. Tishman Speyer will construct the more than 587,227 square feet (approximately 54,575 square meters) of space in a multi-building campus. Nike said when complete, the campus within The Springs will consist of up to three office buildings and a five-story multi-purpose conference center, in a campus-type setting. Along with the commercial buildings, it will feature a soccer pitch and regulation-size indoor basketball court and state-of-the-art work-out facility. The campus will also include a full service food and beverage facility and a standalone conference center to host large-scale events and product unveilings. Nike expects to occupy the new space starting in the first quarter of 2014.
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