Leases  ·  Office

Global Risk Advisors, Two Other Tenants, Expand at 1 WTC


International strategic consultancy firm Global Risk Advisors is growing its footprint at 1 World Trade Center by around 10,000 square feet, while artificial intelligence company ASAPP and fintech firm Kensho Technologies are expanding in the building as well, Commercial Observer has learned.

Global Risk Advisors has signed a nine-year lease for an additional 10,026 square feet in the 104-story building, bringing its square footage on the 83rd floor to 16,976, according to a press release from the building’s owners, Durst Organization and the Port Authority of New York & New Jersey. ASAPP has signed a four-year lease for 7,904 square feet on the 80th floor, bringing its digs on the floor to 26,270 square feet; and Kensho Technologies has signed a five-year lease to expand its footprint by 4,810 square feet to 12,340 square feet in a relocation to the 76th floor from floor 46.

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“We have been fortunate to call 1 World Trade Center home since [September] 2016,” Kevin Chalker, the founder & CEO of Global Risk Advisors, said in a statement provided by a CBRE (CBRE) spokeswoman. “As our team continues to grow, we are thrilled to be able to expand within a building that has had such a positive impact on our employees and company culture.”

CBRE’s Zachary Price and Ramsey Feher represented Global Risk Advisors, an international strategic consultancy specializing in cybersecurity, military and law enforcement training, and intelligence-based advisory service, in its expansion. Price characterized the deal as an “ideal expansion scenario within 1 World Trade Center.”

Alexander Schwartz of Hudson Real Estate Partners, who represented ASAPP, an artificial intelligence company that changes the way people and large organizations communicate, in its deal, said that the company needed additional space “to accommodate a growing team as they continue to expand and diversify an already stellar roster of customers and partners.” ASAPP moved into 1 WTC in October 2017.

Michael Berg, Howard Hersch and Doug Kauffman of JLL (JLL) represented Kensho Technologies, a machine intelligence company which moved into 1 WTC in April 2015, in the expansion deal. A JLL spokesman didn’t respond with a comment.

The three deals bring the building to 76 percent leased, as per a Durst spokesman. Asking rents in the building are $69 per square foot for raw space, and $75 to $80 a foot for prebuilts, he said.

“These are only a few of the tenants that have expanded within the building over the last few years,” emailed Cushman & Wakefield (CWK)‘s Tara Stacom, whose team represented the landlord in the trio of deals along with Karen Kuznick of Durst. Stacom added: “Growing is positive for the owner and tenant alike naturally.”

As CO recently reported, Stacom’s 12-year term at the building ended two weeks ago when she was replaced by a team at Newmark (NMRK) Knight Frank.

“These three new deals epitomize the burgeoning culture of 1 World Trade Center,”Jonathan “Jody” Durst, the president of Durst, said in a statement. “The building has become a beacon for growth companies with an appetite for expansion.”