Uber Technologies has inked a lease expansion deal to increase its 3 World Trade Center office building presence.
CBRE's latest Downtown Manhattan office report for February noted that the ride-sharing giant secured another 44,110 square feet at the property. In 2019, Uber originally signed a lease at 3 World Trade to take 307,390 square feet. The new deal now gives the San Francisco-based firm a total of 351,500 square feet to work with at the building.
First completed in 2018 by developer Silverstein Properties, 3 World Trade at 250 Greenwich Street offers 2.5 million square feet of space. The 80-story building is powered 100 percent by renewable energy, features floor-to-ceiling glass, and has column-free floor plates. Along with Uber, GroupM, Kelley Drye & Warren LLP, and Diageo are some other notable tenants at the property. Additionally, the building houses more than 13,000 office workers, and includes 12 accessible subway lines.
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For February, Uber recorded the second largest lease deal in Downtown Manhattan. Jane Street Group, LLC had by far the largest transaction with its massive renewal and expansion at 250 Vesey Street for 983,791 square feet of space. Masterworks came in third place with its 37,385 square foot lease at 1 World Trade Center.
The CBRE report also found that year-to-date office leasing activity through February surged to 1.18 million, up 174 percent from the same period a year ago. Plus, the 864,000 square feet recorded in February alone was higher than the half-decade average by 287 percent. While availabilities were up by 10 basis points to 21.5 percent compared with January, the category was down by 160 basis from 12 months prior.
However, there was a big negative, as absorption was in the red at -140,000 square feet last month and -236,000 square feet year-to-date.
Asking rents, meanwhile, were flat at $56.47 per square foot.
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