NEW YORK CITY-The federal government is nearing a deal for OneWorld Trade Center, but a lease hasn’t been inked—yet. At a meetingon June 28, the Port Authority Board ofCommissioners unanimously approved a lease agreement withthe US General Services Administration for 270,104rentable square feet inside the 1,776 square-foot skyscraper. Iffinalized, the lease would push the 104-story tower to over 50%occupied.

Previously, Chinese real estate firm Vantone inked a deal for200,000 square feet at the building, and magazine publisher CondeNast agreed to anchor the tower, taking over one million squarefeet on floors 20-44.

While the terms of the transaction are still being fleshed out,sources close to the talks say the Port Authority’s approval is an"important step" in the process. “We continue to work closely withthe Port Authority and the Durst Organizationevery step of the way,” the people say.