Publisher Condé Nast has taken up a 1 million ft² (92,900m²) office lease in the $US3.1 billion One World Trade Centre rising in Manhattan – one-third of the tower.
The building was at first given the name Freedom Tower, acknowledging its role as a memorial to those killed in the 11 September 2001 terrorist plane attacks on Manhattan that destroyed the original World Trade Centre.
The huge lease deal, just the second for the tower, was arranged by Cushman & Wakefield (the international agency to which Bayleys Real Estate in New Zealand is affiliated) as exclusive agent for the Port Authority of New York & New Jersey and The Durst Organisation.
Construction of the centre began in 2006 and has reached 67 levels above ground. Completion is scheduled for 2013. The tower, designed by David Childs of Skidmore Owings & Merrill, will have 71 office floors containing 3 million ft² (278,700m²), a grand public lobby with 15.2m ceilings and an observation deck 378m above ground.
Underneath it, climate-controlled corridors will connect the tower to the World Trade Centre transport hub, designed by Santiago Calatrava, and the new PATH (Port Authority Trans-Hudson) rail terminal, 11 subway lines and the new Fulton St Transit Centre, the World Financial Centre & ferry terminal, and about 46,000m² of shopping & dining.
Cushman & Wakefield president & chief executive Glenn Rufrano said yesterday signing of the Condé Nast lease represented a major milestone in the renaissance of Lower Manhattan, as the district’s largest private-sector leasing transaction in 20 years.
Condé Nast will relocate its headquarters and consolidate its offices from several midtown Manhattan office buildings to occupy floors 20-41 of the new tower.
The first tenant to sign up for the tower was China Centre New York LLC, which signed a lease in March 2009 for 20 years & 9 months on 17,726m² – floors 65-69 & part of the 64th – 190,810 square-foot lease in March, 2009.
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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.