Nike Corporation has agreed to become the first tenant in Tishman Speyer's brand new development - The Springs in Shanghai, China. Construction on the project began in June of 2011. The retail shoe giant will lease 587,227 square feet of office space when they move into the two million square feet of office space sometime in early 2014. The
Portland, Oregon-based Nike has been doing steady business in and around China since 1981. They currently have offices across China and southeast Asia, including a new 2.3 million-square-foot distribution center in Taicang.
The multi-purpose commercial property is expected to be a total of 18 million square feet on 66 acres and will also feature a hotel, local and national retailers, 900 residential units, which are will be pre-sold starting in October, a state-of-the-art conference room, and gymnasium.