NEW YORK CITY—While technology firms have been migrating Southon their own, yesterday's signingof a new lease at 4 World Trade Center is the fruition ofseveral measures being taken by Silverstein Properties to attractDowntown's newest hot sector, says Avison Young principal GregKraut.
"Silverstein has done a tremendous job at positioning the WorldTrade Center to be able to attract this type of tenant," he says."This speaks to the increasingly diverse nature of Downtown andwhat todays tenants needs are. To have a mix of Traditional andMillennial tenants in a new modern building tells a true story ofnot only what is going on in the market, but what the needs are forthe growing TAMI industry."
Of course, market conditions played a role too, he notes."Rental rates for brand new construction downtown are starting tolook much more palatable to tenants when you start comparing whatyou get for the pricing in Midtown South."
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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.
