One World Trade Hits 2M Leased Plateau

NEW YORK CITY—Two new leases totaling 22,000 square feet were all that were needed to put leasing activity at One World Trade Center at 2 million square feet.

The Port Authority of New York and New Jersey and the Durst Organization report that SHVO, an international developer of luxury residential, hospitality, and mixed-use projects, signed a 12,000-square-foot deal, while Juno Lab, a sharing economy company, inked a 10,000-square-foot lease at the 1,776-foot tall tower building. Both leases are for pre-built space on the 84th floor of the building.

Last month, the Port Authority and Durst reported they were close to the 2-millon-square-foot milestone when it signed mobile advertising firm xAd to an expansion deal. The firm doubled its commitment at One World Trade to 86,000 square feet by growing its operations to the entire 61st floor. The company occupies 43,849 square feet on the 60th floor and 42,634 on the 61st floor of the tower.

"Leasing 2 million square feet of Class-A space is comparable to the full lease-up of two major Manhattan skyscrapers," says Eric Engelhardt, vice president of leasing at One World Trade Center for The Durst Organization. "One World Trade Center continues to attract a steady pipeline of tenants representing a wide spectrum of business categories."

"One World Trade Center continues to play a vanguard role in the unfolding revitalization of Downtown Manhattan," adds Beth Wolfowitz, Port Authority director of leasing and development for the World Trade Center Redevelopment Department. "Tenants know that the address delivers added value because the instant name recognition reinforces and underscores the power of their own corporate brand."

The Durst Organization was represented in-house on the two new transactions by Karen Kuznick and by a Cushman & Wakefield team led by Tara Stacom that also included Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas. Elliott Warren, of the Kaufman Organization, represented Juno Lab. SHVO was represented in-house.

A total of 212,420 square feet on the 45th, 46th, 47th, 83rd and 84th floors has been set aside to accommodate small-space tenants. Suites are available in sizes ranging from 2,000 square feet to 20,000 square feet.

Chief tenants at the property include global publishing firm Condé Nast, the anchor tenant, which situated its 1.2-million-square-foot headquarters between the 20th and 44th floors. The General Services Administration has approximately 273,000 square feet on floors 50 to 55, online gaming company High 5 Games occupies 87,663 square feet on floors 58 and 59 and financial services giant Moody's has signed a lease for 75,312 square feet on floors 56 and 57.