The Durst Organization has signed two new leases at One World Trade Center, the iconic, 1,776-foot-tall tower that is spearheading the renaissance of Lower Manhattan.
One firm represents the technology, advertising, media and information industries (the “TAMI” sector), and the other is a financial services company.
Tinypass creates “ecommerce-for-content” software. The company has leased 4,936 square feet of prebuilt space on the 46th floor for a five-year term.
Casablanca Capital LLC, an SEC-registered investment advisory firm that pursues activist and event equity strategies on behalf of its clients, is leasing 2,488 square feet of build-to-suit space on the 46th floor for a five-year term.
The tallest building in the Western Hemisphere, One World Trade Center’s tenant roster extends across a spectrum of business categories. TAMI firms now comprise nearly half of the building’s leaseholders, demonstrating the appeal of both Downtown and of the amenities and flexibility of new construction.
Downtown has seen a surge in the presence of TAMI firms. In 2004, TAMI tenants accounted for 13.4 percent of all new leases signed in Lower Manhattan. By 2014, the figure had risen to 30 percent, and the trend continues.
“One World Trade Center has widespread appeal because of its flexible office space, proximity to a talented workforce, and excellent access to transportation,” said Karen Kuznick, Assistant Leasing Manager at The Durst Organization. “We are building a diverse and dynamic tenant roster at a world-class venue.”
“This extraordinary building is emerging as a new nexus for TAMI firms in Lower Manhattan,” said Port Authority Acting Director of WTC Redevelopment Beth Wolfowitz. “Tenants appreciate the amenity-rich environment, as well as the instant status that comes with this unique building’s internationally renowned address.”
“Our growing ranks of tenants appreciate that One World Trade Center offers a one-of-a-kind identity that carries instant branding value worldwide,” said Cushman & Wakefield Executive Vice Chairman Tara Stacom, who leads the firm’s leasing team of Alan Stein, James Searl and Justin Royce, along with Jodi Pulice of JRT Realty, on behalf of the building. “This universally recognized property is an ideal fit for companies looking for a setting that is both efficient and inspiring.”
One World Trade Center has closed numerous transactions under its specialized prebuilt/build-to-suit program. The Durst Organization has set aside a total of 141,514 square feet on the 45th, 46th and 47th floors to accommodate the requirements of small-space tenants from a variety of sectors. Suites with pre-built and build-to-suit high-end finishes are available in sizes ranging from 2,000 to 20,000 square feet.
The Durst Organization was represented in-house by Karen Kuznick as well as by the Cushman & Wakefield leasing team. Tinypass was represented by Freddie Fackelmeyer, Zachary Price and Christopher Corrinet from CBRE. Casablanca Capital was represented by Peter Simel and James Emden of Colliers.
Global publishing giant Condé Nast, the anchor tenant, began moving into its 1.2-million-square-foot headquarters between the 20th and 44th floors in November and has completed its move-in.
Other TAMI tenants include High 5 Games, a global digital gaming company, which has leased 87,663 square feet encompassing the full 58th and 59th floors. xAd, a technology advertising firm, is leasing the full, 43,849-square-foot 60th floor. Incandescent Technologies, which provides information management consulting services to financial institutions, is leasing built-to-suit space on the 46th floor, and ad agency KiDS Creative, LLC is planning to lease pre-built space on the 47th floor.
Other tenants include: global executive office space provider Servcorp; China Center New York LLC, a division of Vantone Industrial Co., Ltd.; Westfield LLC, the U.S.-based affiliate of Westfield Corporation, one of the world’s leading retail development companies and owner/developer of the World Trade Center retail facilities; commercial real estate services firm Cushman & Wakefield; and Legends Hospitality, LLC, the sports entertainment company developing the building’s One World Observatory.
In addition to Condé Nast, the firms Legends, Incandescent Technologies, C12 Capital Management, Servcorp and The Durst Organization’s downtown office have moved in and are operational in the building.
Located in close proximity to a talented and rapidly growing workforce, Lower Manhattan is home to a steadily increasing population of more than 62,000 residents, with new residential development underway.
One World Trade Center provides direct, weather-protected connections to 12 subway lines, PATH, and the Hudson River ferries for convenient access to the workforce of the entire metropolitan area. In addition, the West Concourse pedestrian walkway — which connects the World Trade Center campus to Brookfield Place and Battery Park City — will soon be extended to offer direct access to the 150 shops, restaurants and services of Westfield World Trade Center, the iconic World Trade Center transit hub designed by architect Santiago Calatrava, and the new MTA Fulton Transit Center on Broadway.
Designed to achieve LEED CS Gold Certification, One World Trade Center is poised to become the most environmentally sustainable project of its size in the world.
Developed by The Port Authority of New York and New Jersey, One World Trade Center sets new standards of design, construction, and prestige, and heralds the revitalization of Lower Manhattan. Managed, operated and leased by The Durst Organization, One World Trade Center is the new icon of New York’s skyline and the most recognized and desirable office address in the world.
Photo by Michael Mahesh
Renderings courtesy of The Durst Organization