Big Tower, Small Spaces: 1 WTC to Subdivide 2 Full Floors for 18 Office Tenants

In an effort that could fuel more leasing activity at the LEED Gold-hopeful 1 World Trade Center, the Durst Organization has announced that two full floors of the 104-story tower will be subdivided to accommodate 18 smaller office tenants.

1 WTC at World Trade Center

The Durst Organization has announced that it will set aside nearly 100,000 square feet of space at 1 World Trade Center for small office tenants. The spaces – all of which will be located on the tower’s full 45th and 46th floors – will range in size from 2000 to 43,000 square feet and accommodate up to 18 individual tenants. Durst, of course, holds a minority ownership stake in the 104-story, 3.5 million-square-foot tower, which it is also managing and leasing up on behalf of the Port Authority of New York and New Jersey.

“There is demand – from across the globe – from large multinational companies to establish a presence at One World Trade Center,” said Eric Engelhardt, who directs leasing at 1 WTC, in a press release. Indeed, one of 1 WTC’s first tenants was the Chinese real estate investment firm Beijing Vantone, which signed a lease for 200,000 square feet on the tower’s 64th and 65th through 69th floors in 2009. And Cushman & Wakefield’s (the tower’s exclusive leasing agent) marketing efforts over the last year have been aimed squarely at foreign firms. So expect these smaller spaces to fill up too, and quickly. But whether they will spearhead more deals for the larger blocks of space that remain at the tower will remain to be seen.

Also, although The Real Deal reported on Durst’s subdivision plans last year, the news does come on the heels of extended leasing inactivity at the iconic, LEED Gold-hopeful tower. So it could be part of a final push to get the tower leased up before it opens for tenants next spring. Currently, 1 WTC remains 55 percent-leased, with anchor tenant Conde-Nast, Beijing Vantone, and the GSA already taking, together, nearly 2 million square feet.

The tower is still on track to become one of the largest LEED Gold projects, ever, targeting energy use 20 percent below code and featuring advanced indoor air filtration systems, daylight control systems, and waste steam recycling, among other advanced building technologies.

About Stephen Del Percio

Stephen Del Percio has written for gbNYC+ since 2006 and currently serves as in-house counsel for one of the world's largest engineering, construction, and technical services companies. He earned a B.Eng. from Columbia, his J.D. at William & Mary, and lives in New York City with his wife and daughter. You can follow Stephen on Twitter, email him at stephen@gbNYC.com, or join gbNYC on Facebook to continue the conversation.

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

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