New $250M Telemundo Global HQ in Miami

NBCUniversal Telemundo Enterprises, which encompasses NBCUniversal's Hispanic franchises and all of its Hispanic content efforts, broke ground this month on a new 450,000 square foot global headquarters in Miami. Telemundo obtained a $185 million mortgage from Wells Fargo Bank in a deal brokered by Cushman & Wakefield to begin construction of the Telemundo building, which NBCUniversal and parent company Comcast indicated would involve more than $250 million to construct.

"This is a very important step in the evolution of our company at a time when we're enjoying tremendous momentum and have just wrapped a record-breaking year," said Cesar Conde, Chairman of NBCUniversal Telemundo Enterprises and NBCUniversal International Group, in a press release. "Our new global headquarters will fold all of our division's offices and production studio spaces into one state-of-the-art facility that will help us do business in a more collaborative way. This significant investment clearly underscores once again NBCUniversal's and Comcast's long term commitment to our business and the U.S. Hispanic market."

Governor Rick Scott added, "I am excited to announce that NBCUniversal Telemundo Enterprises has chosen Miami as the best location to build their new global headquarters and create 150 new Florida jobs. By cutting $1 billion in taxes and creating the new $250 million Florida Enterprise Fund this year, we will make Florida more competitive so companies like Telemundo will continue to grow and create jobs for our families."

The build to suit facility sits on approximately 21 acres at NW 25th Street and the Florida Turnpike, and will initially house 1,100 employees, with the capacity to expand to approximately 1,300. When construction is finished in early 2018, the new global headquarters facility will house the Telemundo Network, Telemundo Studios, Telemundo International, the NBC Universo network, and all of Telemundo's digital media operations. Telemundo's sales offices will continue to operate from New York City. The building of the new headquarters is expected to create approximately 3,000 construction-related jobs and generate an estimated $400 million in sales for Florida businesses. Telemundo pledged to retain 800 jobs and create 150 jobs with average salaries of $89,000, said Larry Williams, president and CEO of the Beacon Council, which worked with the company on incentives and permitting.

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