UPDATE: Servcorp Takes a Tower Floor at One WTC
- Aug 27, 2014
Another business reminds Manhattan tenants that size doesn’t matter at One World Trade Center. Servcorp, a global provider of equipped executive offices and virtual office space, has leased a 34,775-square-foot tower floor in the 3 million-square-foot One WTC, where the firm will be neighbors with the likes of international publishing giant Condé Nast, which is setting up shop in a 1.2 million-square-foot anchor space.
“Servcorp’s deal demonstrates One World Trade Center’s attractiveness to a diversity of tenants and increases our leasing momentum as we get ready to open the building,” Eric Engelhardt, director of One World Trade Center Leasing at The Durst Organization, told Commercial Property Executive. Durst and the Port Authority of New York and New Jersey are developing the property in a joint venture. “For tenants who want an address that is instantly recognizable around the world — who want a building with unparalleled access to transportation and talent, with the greatest views in the world — One World Trade Center is the place.”
The 104-story One WTC’s tower-floor segment encompasses the 64th through 90th floors. Servcorp inked a 15-year deal for the 85th floor in a transaction with commercial real estate services firm Cushman & Wakefield Inc., which is spearheading the leasing of the property on behalf of Durst.
By taking on space at One WTC, Servcorp will also provide single-person office users with the opportunity to call the prominent One World Trade Center home.
It’s already clear that Servcorp will not be alone at the top of the tower. Advertising agency KiDS Creative L.L.C. signed a 15-year lease for the entire 34,775-square-foot 87th floor in May. At more than $90 per square foot, the lease represented the highest rent ever paid downtown, according to a second quarter report by Alliance for Downtown New York.
With Servcorp’s commitment, One WTC is now 57.5 percent pre-leased. In addition to Condé Nast and KiDS Creative, the skyscraper’s tenant roster includes the U.S. General Services Administration, which will occupy approximately 273,000 square feet, and China Center New York L.L.C., which has staked a claim to roughly 202,000 square feet. In addition, international investment advisory firm BMB Group has taken advantage of Durst’s pre-built/build-to-suit program, which has reserved 94,000 square feet on the 45th and 46th floors for office users requiring small space.
One WTC is on schedule to make its official debut near year’s end, and Servcorp will move in during the first quarter of 2015.