NEW YORK CITY-It was the Monday before Christmas, and all through the industry, few were stirring…until Group M finally inked its lease at the World Trade Center. And while it was widely expected that the media company would sign on the dotted line, nothing's a sure thing in real estate until the moment of closing.
So as those who got the deal done breathed a sigh of relief (and maybe popped open the bubbly), the tenant's lead broker on the deal, Mary Ann Tighe, CEO of the New York tri-state region for CBRE, broke down what it all means for GlobeSt.com's Rayna Katz.
“It's an important validation for the changing nature of Downtown,” she says. “The two biggest leases done at the World Trade Center so far are global media companies [the other being with Conde Nast, also brokered by Tighe] who are changing the nature of how they occupy space and their reliance on technology. It also says something about the importance of new construction and what it offers. That played a role.”
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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.
