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Article: Cisco Systems Pulls Out of Proposed New York Office Tower.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 7, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Eric Herman, Daily News, New York Knight Ridder/Tribune Business News
Jun. 7--The proposed office tower over the Port Authority bus terminal blew a flat tire yesterday following word that Cisco Systems decided not to become the building's main tenant.
The development cast some doubt on the project known as 20 Times Square Tower, or 20X.
Real estate executives said it cannot go forward without a major tenant committed to leasing about half of the proposed 39-story building. But members of the development team insisted yesterday that a deal with Cisco was still alive -- though in diminished form.
"Discussions on a scaled-down ...