Tech Firm Olo Leases 36K SF in 1 WTC
A digital food ordering and delivery platform, Olo, will take over media company Mic’s former offices on the entire 82nd floor of One World Trade Center, the landlords announced.
Olo inked a 10-year lease for the 36,099-square-foot space, landlords Durst Organization and the Port Authority of New York & New Jersey said in a release. The tech company moved out of its previous offices at 26 Broadway, at the corner of Beaver Street, and into the 104-story, 3.1-million-square-foot tower over the weekend, a source said. The asking rent was $82 per square foot.
News of the lease was first reported by The New York Post.
Olo was represented in the deal by Brian Lee and Travis Wilson of Newmark Knight Frank. Eric Engelhardt and Karen Kuznick of Durst handled it in-house for the landlord along with NKF’s David Falk, Jason Greenstein, Peter Shimkin, Hal Stein and Travis Wilson. The brokers did not immediately respond to a request for comment.
“One World Trade Center offers Olo an exceptional value with state- of-the-art infrastructure, amenities and a workplace environment which will enable Olo to continue to expand while attracting and retaining the best and brightest workforce,” Lee said in the release.
The 82nd floor was previously occupied by Mic, which was acquired by Bustle Digital Group and laid of the majority of its staff in November 2018, The Wall Street Journal reported.
Separately, artificial intelligence company Asapp extended its lease for a 10-year term and expanded by 10,691 square feet on the 80th floor, bringing its total square footage to 36,960 square feet, the release said.
“With more than 400,000 square feet in our small suite program, we have the flexibility to accommodate the expansion needs of these rapidly growing young companies.” said Engelhardt, senior managing director at Durst, in the release. “In addition to ASAPP, five other firms have seamlessly grown their offices at One WTC.”