NEW YORK CITY—GlobeSt.com has confirmed reports that media firm GroupM has inked an expansion lease at 3 World Trade Center. The agreement adds a sprawling 170,000 square feet to its large, 516,000-square-foot offices.
The addition is the largest new office commitment at any World Trade Center building since GroupM's original lease signing in 2013, notes the New York Post.
A spokesman for building owner Silverstein Properties declined to comment on the deal. According to the Post, Silverstein offered GroupM considerable future expansion options and was represented in-house by Jeremy Moss and a CBRE team including Stephen B. Siegel, Mary Ann Tighe and Adam Foster. The tenant was represented by a CBRE team including Tighe and Gregory Tosko. CBRE could not be reached at press time.
GroupM will take floors 32 to 35 in addition to its previously committed blocks on floors 11 to 16 and 28 to 31. The deal only brings 3 World Trade Center's 2.5 million square feet of office space up to 28% leased. Still, that's a promising start for a speculative project that isn't slated for delivery until 2018.
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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.
