Manhattan, NY According to The Durst Organization and The Port Authority of New York and New Jersey, The Stagwell Group LLC signed a 13-year lease for 83,955 s/f on the 62nd and 63rd floors of One World Trade Center. One World Trade Center is currently 75% leased, and 160,000 s/f has been signed at the property in the first half of 2017.
The Stagwell Group was represented by managing director Michael Berg, managing director Howard Hersch and associate Doug Kauffman of JLL. The landlord was represented by Tara Stacom and her team at Cushman & Wakefield and senior managing director Eric Engelhardt of The Durst Organization.
“We are pleased to welcome The Stagwell Group to One World Trade Center,” said Jonathan Durst, president of The Durst Org. “Stagwell is rapidly expanding its portfolio of companies, and we are thrilled they have chosen One World Trade Center as the location to integrate its disparate offices into one location.”
“We are excited to be able to make an amazing new space for digital creatives and will be bringing together a great group of portfolio companies to foster synergies in a dynamic new workspace. We could find no better place for this new concept than One World Trade Center,” said Mark Penn, the president and managing partner of The Stagwell Group.
“Stagwell joins a growing and vibrant community of creative companies at One World Trade Center,” said Engelhardt. “More than 15 TAMI companies, from tech start-ups to fashion icons make One World Trade Center an epicenter of innovation and inspiration in Lower Manhattan.”
The Stagwell Group is a registered investment advisory company formed by Penn who serves as president and managing partner of Stagwell Media LLC, a private equity fund. The Stagwell Group portfolio includes public opinion research leader Harris Insights & Analytics, leading integrated performance-driven global marketing firm PMX Agency, creative digital firm Code and Theory, strategic communications firm SKDKnickerbocker and entertainment research firm National Research Group (NRG). Stagwell Group has also made a strategic investment in public relations firm Finn Partners and created communications agency Wye Communications. The fund previously raised $250 million in capital and may leverage that to make up to $750 million in acquisitions.
One World Trade Center sets new standards of design, construction, sustainability and beauty and heralds the revitalization of Lower Manhattan. Managed, operated, and leased by The Durst Organization and built by The Port Authority of New York and New Jersey, One World Trade Center is an icon of New York’s skyline, a center of innovation and creativity, and the most recognized office address in the world.
One World Trade Center recently opened One World Commons, located on the 64th floor and powered by Convene, to serve as a world-class corporate and social hub, a “third-space.” It is purpose-designed for workers to get away from the traditional office, but also fosters workplace creativity, collaboration, learning and development, and ultimately – a sense of place and community. The floor features: conference and event rooms with technology, common areas and lounges including a café with a barista bar operated by For Five Coffee Roasters and Grab-a-Go food station and a complimentary multimedia parlor with pool, ping-pong and shuffle board.
The Durst Organization, founded in 1915 by Joseph Durst, is the owner, manager and builder of 13 million s/f of office towers in the city and 1,950 residential rental units with 3,400 in development. The Durst Organization is recognized as a world leader in the development of high-performance and environmentally advanced commercial and residential buildings.
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