Just about a month ago, the propertazzi was abuzz speculating over the sorry state of rental affairs at the One World Trade Center and its inability to attract tenants; but now within a matter of weeks, the building is half full.
According to the New York Post, the building just got two tenants to ink leasing deals and officials said that the tower is now 56 percent occupied.
Over the last one month, two companies signed up to rent space in the famous building. Legends Hospitality, a sports entertainment firm owned by the New York Yankees, plans on setting up headquarters in the building and BMB Group, a London-based wealth management firm, are its newest members.
"We have forged a terrific relationship with Legends and are very pleased that they have chosen to locate their One World Observatory office at One World Trade Center," said Jody Durst, president of The Durst Organization, which owns the building, in an official announcement June 25, according to Real Estate Weekly.
"We are also excited to add The BMB Group to our tenant roster under our pre-built program, which provides companies searching for a smaller footprint the opportunity to reap the benefits of New York's most prestigious new address," she added.
Conde Nast, Morgan Stanley and Bank of America have already taken up space in the building, which is slated to open later this year. General Services Administration also takes up about five floors in the building from 50th to 55th levels.
Recently, advertising agency KiDS Creative signed a deal to lease the entire 87th floor of the famous building.
Demand for space in the building was relatively low for the past one year. Since last year, the incomplete building could only lease out 30 percent of its space. The high rents were hampering occupancy in the building.
Therefore, the organization slashed rent by about 10 percent in May and that strategy seemed to have paid off. Currently, rents for space below the 64th floor is about $69 per square feet, down from the $75 charged earlier. However, for floors above the 64th level, rents are still soaring from $80 to $100.
But, the pace of leasing activity seems to be picking up.
"These pre-built and build-to-suit opportunities have consistently attracted interest from companies worldwide, eager to establish a presence at this elite venue. Tenant prospects appreciate the status and allure delivered by the tallest building in the Western Hemisphere. This globally recognized address resonates perfectly with these companies' own international reach and prestige," said Eric Engelhardt, director of leasing at 1 WTC explained, according to the Commercial Observer.
One WTC stands at 1776 feet (architectural height). The 104-storey tower remains a historic, symbolic monument to those killed in the September 11 attacks. The iconic building, where construction is still on, was crowned the tallest building of the United States by the Council of Tall Buildings and Urban Habitat (CTBUH) last year.
