Durst Signs 2 More Leases at One World Trade Center

By Gail Kalinoski, Contributing Editor

Courtesy of flickr user Jay Radhakrishnan

Conde Nast may have gotten all the headlines this week for its move into nearly 1.2 million square feet of space at the new One World Trade Center, but The Durst Organization keeps adding smaller tenants to the mix, including two companies this week taking about 6,000-square-feet in build-to-suit offices.

“One World Trade Center offers a prebuilt/build-to-suit program that continues to attract smaller firms who desire best-in-class space at a globally recognized address,” Jonathan “Jody” Durst, president of The Durst Organization, said in a news release. “We think it’s exciting that a building of this magnitude can accommodate firms of all sizes representing a wide spectrum of industries.”

The Durst Organization has set aside 94,000 square feet on floors 45 and 46 for companies that want to be in the 104-story, 3 million-square-foot building but have smaller requirements. The suites will range in size from 2,000 to 20,000 square feet.

With the new deals in place, the tower now has 1.78 million square feet leased and is at 70 percent of the projected stabilized net operating income, according to The Durst Organization.

C12 Capital Management, an independent asset management firm, is taking 3,446 square feet on the 46^th floor. The firm, which is relocating from Midtown Manhattan, will move into One WTC in early 2015.

“After looking at a lot of space in New York City to which we could relocate our headquarters, One World Trade Center, with its build-to-suit space, was hard to top,” Tom McCosker, COO and CFO of C12 Capital Management, said in the release.

Also taking a build-to-suit suite will be Incandescent Technologies, which provides global information management consulting services and solutions to financial institutions. The firm, which will be relocating within Lower Manhattan, is taking 2,556 square feet, also on the 46^th floor for its global headquarters.

“Whether tenants need multiple floors or smaller, customized spaces, they enjoy unsurpassed marketing value when ‘One World Trade Center’ appears on their letterhead,” said Tara Stacom, Cushman & Wakefield executive vice chairman who is leading the firm’s leasing efforts at the new skyscraper.

The Durst Organization was represented on the new transactions by Karen Kuznick, assistant leasing manager, and the Cushman & Wakefield leasing team. Jonathan Schindler and David Mainthow of Cassidy Turley represented C12 Capital Management. Paul Ferraro, Deborah van der Heyden and Damla Yerdenlenli of Jones Lang LaSalle represented Incandescent Technologies.

International publisher Conde Nast began moving its workers into the building Monday. The firm is occupying the 20^th through 44^th floors for its global headquarters.

Other leases have been announced within recent months, including Servcorp, which is taking the entire 85^th floor, or 34,775 square feet, at the tower. Servcorp, a global provider of equipped offices and virtual office space, signed the 15-year deal in August and plans to move in during the first quarter of 2015.

Advertising agency KiDS Creative L.L.C., is also taking 34,775 square feet. It will be on the 87^th floor.

One of the larger tenants will be the U.S. General Services Administration, which is leasing 272,995 square feet between floors 50 and 55. Another large tenant will be China Center New York L.L.C., a division of Vantone Industrial Co., Ltd., which is taking 202,732 square feet. The firm is taking the entire 65^th through 69^th floors and part of the 64^th floor.

Westfield L.L.C., the U.S.-based affiliate of Westfield Corp., and the owner and developer of the World Trade Center retail facilities, will be leasing 12,456 square feet on the 46^th floor, and Cushman & Wakefield is taking 10,222 square feet on the 45h floor.