NEW YORK CITY-The Durst Organization has announced a new leasing program at One World Trade Center. The offering makes available a limited number of smaller spaces in the iconic three-million-square-foot office tower.
Two floors—located on the 45th and 46th floors—are being set aside as part of the pre-built/build-to-suit program. Comprising a total of 94,000 square feet, the program can accommodate a maximum of 18 tenants. The two floors are being subdivided into smaller increments ranging between 2,000 and 20,000 square feet each. A single user can lease as little as 2,000 square feet of space up to a total of 43,000 square feet.
Cushman & Wakefield—in conjunction with Durst—is conducting the global marketing campaign. The Cushman team is led by executive vice chairman Tara Stacom.
"We decided to launch this campaign in the fall because smaller companies don't get out in front of their space needs the way large scale tenants do, and we're more able to offer space now," Stacom tells GlobeSt.com. The floors on which the space is available are the "growth floors for big tenants, like Conde Nast," she notes. The smaller leases will expire in conjunction with the dates when Conde could exercise its expansion option, which kicks in more than a decade after the publishing giant first takes its space, she says.
The build-to-suit initiative offers customized construction and finishes to meet specific tenant configurations. Ownership will begin construction of the prebuilt spaces in early 2014. The spaces will be available for occupancy January 1, 2015. The building is currently over 55% leased.
“There is demand, from across the globe, from large multinational companies to establish a presence at One World Trade Center,” says Eric Engelhardt, VP, director of leasing at One WTC for Durst. “These potential users need a New York flagship at a building with a globally recognized address that speaks to their international reach and prestige.”
Adds Stacom, “We will build space tailored to a tenant's specific needs. It's a rather cherished opportunity, and we have a list of tenants that have been asking about space in the building for some time. The units are high-end suites, with magnificent views from all directions, that will be an additive to any company's branding."
She says a "wide spectrum" of tenants have expressed interest in the space. They range from "traditional professional services to technology firms, and there's interest from foreign firms looking to create offices in New York—and wanting the most renowned building to do it in—as well as financial firms and foundations."
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
