Robert Becker, senior leasing manager at The Durst Organization, joined the company eight months ago. Having previously worked closely with the firm as an executive with Bank of America’s global real estate transactions and leasing operations team, Mr. Becker jumped on board with inside knowledge of the firm’s pivotal role in shaping the landscape of Read More
The Year in Review
The five-year saga involving the General Services Administration and 1 World Trade Center reflects both intractable Washington gridlock and the lurching progress at the building formerly known as the Freedom Tower.
When the GSA , an independent government agency in charge of supplying and managing federal offices, secured a 270,000-square-foot lease at 1 World Trade Center, it pushed the still-rising landmark above 50 percent occupancy.
But along the way there was a dramatic scaling back of lease terms, an angry congressman and a Las Vegas spending spree that nearly torpedoed the transaction.
After the jump, an illustrated guide to the biggest deal of the year.
One World Trade Center
The U.S. General Services Administration has signed a 20-year lease for six floor and 270,000 square feet at One World Trade Center, the Port Authority of New York and New Jersey announced this morning.
The GSA, which oversees and manages U.S. Government offices, now joins Condé Nast and Vantone China as tenants in what is expected to be “the tallest building in the Western Hemisphere” once it finishes construction and begins occupancy by 2014. Condé Nast is committed to 1.2 million square feet and Vantone China has leased 190,000 square feet in the building already.