Hot deals at 1 and 3 WTC
BOTH Larry Silverstein and Douglas Durst have something to cheer about for the holidays at the World Trade Center.
The major GroupM expansion at Silverstein’s 3 World Trade we first predicted on Nov. 9 is at hand. The WPPowned media agency group and Silverstein Properties are in “the very final stage” of wrapping the deal up by Jan. 1, sources told us.
GroupM is expected to add 170,000 square feet to the 520,000 square feet that it has already leased as the anchor tenant in the Richard Rogersdesigned skyscraper. In what’s the largest new space commitment at the complex in some time, the firm will take floors 32 to 35 in addition to its previous signings for 11 to 16 and 28 to 31 (there are no office floors, only mechanical components, between the two blocks).
The deal comes with future expansion options. Silverstein is repped by Jeremy Moss inhouse and a CBRE team including Stephen B. Siegel, Mary Ann Tighe and Adam Foster. GroupM is repped by a CBRE team including Tighe and Gregory Tosko.
GroupM’s prospective 690,000 square feet account for only 28 percent of 3 World Trade’s 2.5 million square feet of office space. But we’ll go out on a limb and say it all will be spoken for by the time it opens in 2018.
The World Trade Center’s “cool factor”appeal to media and other sexy tenants is also evident at the Port Authority/Durst Organization’s 1 World Trade, home to cuttingedge tenants such as High 5 Games and xAd, as well as the more traditional Condé Nast and Moody’s.
Two justsigned small deals for prebuilt spaces on the 84th floor have pushed 1 World Trade over the 2 millionsquarefoot office-leasing threshold. The 1,776foottall tower has a total of 3.1 million square feet, including the 115,000squarefoot One World Observatory.
The higherprofile signing is SHVO, superbroker-turned-developer Michael Shvo’s firm, which just happens to be planning an 841foot residential tower in partnership with Bizzi & Partners and Howard Lorber a few blocks south at 125 Greenwich St.
SHVO’s 12,000squarefoot aerie will serve as a marketing center for the new condo tower — which they’ll be able to keep an eye on from southfacing windows.
Separately, sharingeconomy firm Juno Lab took 10,000 square feet. The asking rent on the 84th floor is $85 per square foot.
Both leases were negotiated for the landlord by Durst’s Karen Kuznick inhouse and by a Cushman & Wakefield team led by Tara Stacom. SHVO was selfrepresented and the Kaufman Organization’s Elliot Warren acted for Juno Lab.
Meanwhile, a prospective full82ndfloor lease at 1 World Trade by media company Mic is said to be chugging along but not yet imminent. That negotiation, first reported by The Real Deal, will eat up another 36,000 square feet when completed.