Posted Nov 29, 2012, 5:49 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 57,103
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http://therealdeal.com/issues_articles/watching-the-world-trade-center/
Leasing at World Trade
Building experts expect the pace to pick up in 2013
November 01, 2012
By Guelda Voien
Quote:
The bulk of space at 1 World Trade will, of course, be occupied by magazine publisher Condé Nast, which signed an initial lease in May 2011, and upped its total space by 140,000 square feet, to 1.2 million square feet, earlier this year. But now, 1 World Trade, which will still have another 1.1 million square feet to lease up when the balance of the tower hits the market, is starting to gear up for smaller leases. “We are working with an architect to subdivide” at least one floor, but possibly more as needed, said power broker Tara Stacom of Cushman & Wakefield, who heads up leasing at the building.
The lease signed by the GSA — the federal agency that manages and supports other government agencies — accounts only for about one-tenth of the building. While the GSA declined to reveal which government agency it will house there, its lease prohibits “law enforcement, immigration, probation, health or medical welfare” tenants, a spokesperson for landlord the Durst Organization told TRD.
One source close to the tower who asked not to be identified said the U.S. Securities and Exchange Commission is currently the front-runner to take the 270,000-square-foot space. The source also said the other agencies are off limits in order to retain the “corporate identity” of the building.
Meanwhile, online discount stock brokerage E*TRADE is taking “a hard look” at space, sources said. An E*TRADE spokesperson denied that the company has looked at a 1 World Trade Center space, but it currently occupies 39,000 square feet at the Time-Life Building, according to the CoStar Group. Stacom said she tours the building with prospective tenants “several times a week,” and that interest has come mainly from “law firms, tech companies and other professional services firms.”
She also said that considerations of partial-floor tenants in the building have begun in earnest. “We expect, in 2013, to do some [deals for] smaller spaces.” Stacom declined to specify if the building was in negotiations with any tenants. And she declined suggestions that leasing was going too slowly. “We are two years before we can even turn over the whole building, so we’re ahead of schedule,” she said.
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Awesome,as usual. We'll be seeing great views of the skyline as the mast is being built. Can't wait to see a very of NYC from 1,776 feet when the official top off of this tower finally happens.
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