NEW YORK CITY—Just when the ownership of One World Trade Center decided to make a major concession in order to woo tenants—after going nearly three years without signing a single lease for a private office tenant—the building has landed a new space user.
The Durst Organization has signed KiDS Creative, LLC to a15-year, 34,775-square-foot, full-floor lease on the 87th floor of the building. Headed by founder and chief creative director Pascal Dangin, KiDS is an ad agency that offers a full range of advertising and brand strategy services. The floor's occupants also will include the photography and film departments of Dangin's post-production house, Box, including a state-of-the-art theatre for private screenings.
The lease comes just as Durst—in conjunction with its joint venture partner, the Port Authority of New York and New Jersey—decided to reduce asking rents on the lower floors in order to stimulate leasing. The 3.1 million-square-foot skyscraper's landlord is cutting asking rents nearly 10% to $69 a square foot for larger tenants on the building's middle floors, down from $75 a square foot, according to the Wall Street Journal.
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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.
