The Durst Org. has signed two leases totaling 6,002 s/f at One World Trade Center. C12 Capital Management is taking 3,446 s/f of build-to-suit space on the 46th floor. The company will assume occupancy in the first quarter of 2015. Incandescent Technologies is also leasing build-to-suit space on the 46th floor. Incandescent will take occupancy of its 2,556 s/f office in the first quarter of 2015.
The Durst Org. was represented by Karen Kuznick, assistant leasing manager, and the Cushman & Wakefield leasing team. Jonathan Schindler and David Mainthow of Cassidy Turley represented C12, and Paul Ferraro, Deborah van der Heyden and Damla Yerdenlenli of JLL represented Incandescent.
One World Trade Center has concluded numerous transactions through its specialized prebuilt/build-to-suit program. The Durst Org. has set aside a total of 94,000 s/f on the 45th and 46th floors for the small-space requirements of companies that recognize the value of the building's unique stature to enhance their own brand. Suites with high-quality finishes are available in sizes ranging from 2,000 to 20,000 s/f.
The 3 million s/f office tower is now at 70% of the projected stabilized net operating income (NOI), with 1.78 million s/f leased.
"One World Trade Center offers a prebuilt/build-to-suit program that continues to attract smaller firms who desire best-in-class space at a globally recognized address," said Jonathan (Jody) Durst, president of The Durst Org. "We think it's exciting that a building of this magnitude can accommodate firms of all sizes representing a wide spectrum of industries."
"This remarkable building literally stands at the apex of the Lower Manhattan renaissance," said Port Authority acting director of WTC Redevelopment Beth Wolfowitz. "New tenants consistently tell us that it is valuable for them to be situated in one of the country's most exciting urban settings, and to be surrounded by such a wide array of retail and transportation amenities."
"After looking at a lot of space in New York City to which we could relocate our headquarters, One World Trade Center, with its build-to-suit space, was hard to top," said C12 COO and CFO Tom McCosker. "We look forward to moving from Midtown and to be part of the resurgence that is going on in Lower Manhattan."
"We are incredibly excited to make One World Trade Center our new Global Headquarters," said Brian Vaske, CEO of Incandescent. "We could not be happier with the experience we have had in working with The Durst Organization to procure the perfect place to call our new home. We know our employees and clients will also continue to benefit from the unrivaled amenities of this location for years to come."
"Whether tenants need multiple floors or smaller, customized spaces, they enjoy unsurpassed marketing value when 'One World Trade Center' appears on their letterhead," said Cushman & Wakefield executive vice chairman Tara Stacom, who leads the firm's leasing team on behalf of the building. "And thanks to their location in a thriving residential community Downtown, our occupants gain an edge in attracting and retaining a skilled workforce."
International publishing giant Condé Nast — the property's anchor tenant — is occupying nearly 1.2 million s/f between the 20th and 44th floors as its global headquarters.
A rapid succession of tenants has recently signed leases at the building.
Westfield LLC — the U.S.-based affiliate of Westfield Corp., one of the world's leading retail development companies — signed a five-year lease for 12,456 s/f of prebuilt office space on the 46th floor. The firm is also owner and developer of the World Trade Center retail facilities. Also, commercial real estate services firm Cushman & Wakefield closed a ten-year, 10,222 s/f lease on the 45th floor.
The property also signed two, full-floor, 34,775 s/f leases: Global executive office space provider Servcorp will occupy the entire 85th floor, and ad agency KiDS Creative, LLC will occupy the entire 87th floor.
In addition, Legends Hospitality, LLC — the sports entertainment company developing the building's One World Observatory on floors 100-102 — is situating members of its Observatory operations team on the 45th floor. Also, London-based BMB Group, an international, investment advisory firm, is leasing pre-built space on the 46th floor.
China Center New York LLC, a division of Vantone Industrial Co., Ltd., has leased 202,732 s/f and will occupy the entire 65th through 69th floors, as well as a portion of the 64th floor.
The U.S. General Services Administration is leasing 272,995 s/f between floors 50 through 55.
One World Trade Center is the Western Hemisphere's tallest building, as designated by the Height Committee of the Council on Tall Buildings and Urban Habitat, the entity recognized as the final arbiter of global building heights.
With proximity to a rapidly growing, vibrant and talented workforce, the building's Lower Manhattan setting is home to more than 61,000 residents. Several additional projects in development will significantly add to nearby residential units in 2015.
One World Trade Center also provides direct, weather-protected connections to 11 subway lines, PATH and Hudson River ferries for easy access to the workforce of the entire metropolitan area. In addition, the West Concourse pedestrian walkway, which currently connects the World Trade Center campus to the Brookfield Place Winter Garden and Battery Park City, will soon be extended to provide direct access to the MTA Fulton Transit Center.
Designed to achieve LEED CS Gold Certification, One World Trade Center is poised to become the most environmentally sustainable project of its size in the world.
At 1,776 feet tall, developed by The Port Authority of New York and New Jersey, One World Trade Center sets new standards of design, construction, and prestige, and heralds the renaissance of Downtown Manhattan. Managed, operated and leased by The Durst Organization, One World Trade Center is the new icon of New York's skyline and the most recognized and desirable office address in the world. Tags: