P.A. Picks Leasing Agent for Freedom Tower

NEW YORK CITY-Locally based Cushman & Wakefield has been named the exclusive leasing agent for 1 World Trade Center, the Freedom Tower, by the Port Authority of New York and New Jersey. The Freedom Tower, which is currently under construction at the site of the former World Trade Center, will total 2.6 million sf upon its completion in 2012.

Under the terms of the three-year agreement, C&W will provide advisory services and assist Port Authority staff in the marketing of the Freedom Tower and negotiating leases. Cushman & Wakefield will be responsible for leasing approximately 60% of the building’s office space, or 1.5 million gross sf. The brokerage firm expects to have the Freedom Tower substantially leased by the building’s completion date of 2012 at competitive rental rates.