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One World Trade Center Leases 85th Floor to Servcorp

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Post-actually-getting-built, One World Trade Center has faced a whole new set of difficulties in trying to fill itself with tenants. With the tower still just over 50 percent leased, landlords the Durst Organization and the Port Authority were recently forced to cut rents in the middle floors, to $69 per square foot. But on the upper floors, which are still going for $75 to $100 per square foot, there comes some good news: the entire 85th floor has just been leased by Servcorp, an "Australia-based company, which provides both co-working space and virtual offices." The company, which already has three Manhattan locations (in 17 State Street, 1330 Sixth Avenue, and 375 Park Avenue) is expected to spend at least $1.8 million building out the 34,775-square-foot 85th floor. Its lease is for 15 years. It joins other 1 WTC tenants such as Conde Nast, KiDS Creative, BMB Group, and Legends Hospitality.

The new tenant brings One World Trade Center to almost 57.5 percent leased, which, with the tower set to open this fall, is still not great. As the Wall Street Journal reported when the middle-floor rents were cut, the $3.9 billion project "has little hope of proving to be a good financial investment in the short term."
· Servcorp books a floor at 1 WTC [NYP]
· One World Trade Center coverage [Curbed]

One World Trade Center Freedom Tower

72 Vesey Street, New York, NY 10006