Information Technology Company Heads Downtown to 13K SF at 1 WTC
By Terence Cullen August 17, 2016 1:11 pm
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An Indian business technology firm has inked a deal to move its New York City offices to an upper floor of 1 World Trade Center.
Infosys Technologies will occupy 13,175 square feet on part of the 79th floor of the 104-story skyscraper, according to a press release from the tenant’s broker CBRE. The company’s lease is for 11 years at the 3-million-square-foot Downtown tower, which is owned by the Port Authority of New York & New Jersey and Durst Organization.
Asking rent in the deal was not immediately available, but asking rent on lower floors has been $69 per square foot, as Commercial Observer has previously reported.
Infosys Technologies is currently based at 45 Rockefeller Plaza between West 50th and West 51st Streets. CoStar Group indicates that the company leases 14,068 square feet at that property.
Alex Kantor and Joseph Mangiacotti of CBRE represented the tenant in the deal and did not immediately return a request for comment via a spokeswoman. Connor Daugstrup, Justin Royce, Tara Stacom, Peter Trivelas and Barry Zeller of Cushman & Wakefield represented the landlords. A spokesman for Durst, which handles leasing and management of the building, did not immediately return a request for comment.
Occupancy at 1 WTC recently hit the 70 percent occupancy milestone—leaving about 1 million square feet at the property left to lease. In June, Port Authority commissioners approved Durst’s plan to expand its pre-built and built-to-suit program by three floors. The program—on the 45th through 49th, 76th, 83rd and 84th floors—allows for smaller tenants to take space at the building as opposed to an entire floor, which could be up to 48,000 square feet. Port Authority and Durst executives have hailed the approach for helping fill the sizable skyscraper, and have noted occupancy for the program is also at about 70 percent.
“The pre-builts have been a home run, frankly,” Port Authority Executive Director Patrick Foye said in June following the board’s vote on the plan.
Also in June, Ameriprise inked a 37,704-square-foot deal to relocate across the street from 7 World Trade Center to the 78th floor of 1 WTC, as CO previously reported.
