Durst To Hold Leasing Event At 1 WTC Next Month
Daniel Geiger April 4, 2012, 12:23 p.m.
The Durst Organization will be inviting a group of brokers to One World Trade Center next month in what is the first on-site marketing event at the soaring tower.
Invitations are being extended to about 250 brokers a spokesman for the Durst Organization said. Top Durst executives, including the company’s chief executives Douglas Durst and Jody Durst and leasing director Tom Bow, along with Cushman & Wakefield’s Tara Stacom, who heads the building’s agency team, will give the presentation.
The event will be held as a breakfast on either a floor in the high 50s or the low 60s in the still-rising office tower, which is under construction and is expected to top out in the next few months and yesterday hit the benchmark of 100 floors.
“We want to invite top dealmakers into the building,” Jordan Barowitz, a spokesman for the Durst Organization, told The Commerical Observer. “Giving a presentation about the property is one thing, but we wanted to allow brokers the chance to actually experience all the unique attributes of the property firsthand and for the first time. Its incredible views, large floors and floor-to-ceiling windows.”
One World Trade Center is scheduled to be finished by the end of the year and tenants will likely be able to begin to moving into the three-million-square-foot skyscraper, which is the tallest in the city, by next year.
The property’s distinct octagonal facade has been assembled as the property’s steel girders and concrete have risen, meaning that the marketing event will take place in what will seem less like a construction site and more like a finished office building. The floor will be in a raw condition, meaning that its concrete and steel will be visible and not yet enclosed by sheet rock, ceilings and other elements that are normally installed in a space to make it fit for habitation by an office tenant. That work is not done until a floor is leased by a tenant and construction of the building itself is finished.
Mr. Barowitz didn’t specify which brokers are being invited to the event but said the group will be the “top echelon of the brokerage community.”
Since buying a $100 million stake in the roughly $3 billion building, the Durst Organization has taken the reins on leasing at the property. Last year, Conde Nast signed an over one-million-square-foot lease at the property in what was one of the largest and most talked about office transactions of the year. In addition to Conde, federal government tenants are expected to take about 300,000 square feet at the property and the Chinese company Vantone also committed to about 200,000 square feet of space. Though the leasing so far has been widely seen as a strong sign of the tower’s viability as a destination for office users, the Durst Organization still has over a million square feet to fill.