Tenants Are Drawn to LEED Label as 7 World Trade Center is Completely Filled

What’s most interesting about two recent deals totaling 12,400 square feet at 7 WTC is that at least one of the tenants was attracted to the building’s LEED rating, in addition to its stunning views and Downtown location.

Two recent leases totaling 12,400 square feet on the 46th floor of Silverstein Properties’ LEED Gold-certified 7 World Trade Center have brought the 52-story tower to 100 percent occupancy. But what’s most interesting about the deals is that at least one of the tenants was attracted to the building’s LEED rating, in addition to its stunning views and Downtown location.

The two new tenants are Telemetry: a London-based technology firm opening its first North American office, and Casey Family Services, a Manhattan-based non-profit that provides adoption, foster care, and family advocacy services. Both are paying approximately $70 per square foot for their new spaces, which they’ll move into this summer.

According to Crain’s, Telemetry was originally interested in joining other tech firms in the Midtown South, “Silicon Alley” submarket, but hunted extensively for newly built space to no avail. When it toured 7 World Trade Center, its executives were “hooked” by both the design and the views. Its 7-year, 5400-square-foot deal totals 13 percent of the space on 7 WTC’s 46th floor.

Casey Family Services, on the other hand, is currently a tenant at One Liberty Plaza, and wanted to stay put Downtown. But with its lease expiring and no availability, it looked elsewhere, and was attracted to 7 WTC’s LEED rating. Its lease is for 6 years and 7000 square feet.

The deals represent another important milestone for New York City’s first LEED Gold-certified commercial office building: the 1.7 million-square-foot 7 World Trade Center is now completely occupied. (A 125,000-square-foot deal last fall with MSCI was for the tower’s last large block of space). Certainly it’s a testament both to Silverstein Properties’ resiliency and belief in the World Trade Center submarket, but it’s also a broader commentary on New York City’s enduring attraction as a global business destination.

(On a side note, we were interested to note that both tenants were represented by the landlord’s broker in connection with the transactions.)

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  1. With Term Sheet Signed, Richard Rogers’ LEED Gold 3 WTC Almost Ready to Rise – insiderater.com - Friday, July 12, 2013

    [...] rebuilding the new 7 World Trade Center without an anchor tenant completely on spec and then subsequently leasing it up demonstrated his commitment to rebuilding our great city in the aftermath of September 11. [...]