One World Trade Center 95 Percent Leased With Latest Deal: Durst
By Mark Hallum March 29, 2022 8:19 am
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Data processing firm Celonis extended its existing lease at 1 World Trade Center by signing for an additional 40,763 square feet on the 70th floor, The Durst Organization and The Port Authority of New York and New Jersey (PANYNJ), the tower’s owners, announced Monday.
The deal brings 1 World Trade Center to 95 percent leased, 2 percentage points higher than just before the pandemic, according to Durst.
Celonis was represented by Michael Mathias and Kirill Azovtsev of Savills while Durst was represented in-house by Eric Engelhardt and Karen Rose. A Newmark team of David Falk, Jason Greenstein, Peter Shimkin, Hal Stein and Andrew Duffy also assisted Durst in the transaction.
“This milestone is a testament to the resilient appeal of 1 World Trade Center to a variety of tenants, and it also signals the strength of the World Trade Center campus as tens of thousands of office workers return, making it once again the vibrant hub of Lower Manhattan,” Rick Cotton, executive director of PANYNJ, said in a statement. “With the façade of the Performing Arts Center now fully visible as construction advances, and with approaching completion of the St. Nicholas Greek Orthodox Church and National Shrine, the final pieces of the campus are taking shape to realize the full vision of the site, which is poised to play a key role in the city and region’s economic recovery from the pandemic.”
In February 2020, Celonis signed a 7.5-year lease for 34,328 square feet on the entire 87th floor with an asking rent of $85 per square foot, Commercial Observer reported at the time. At the time, 1 World Trade Center was 85 percent leased and the tenant was relocating from its former headquarters at 119 West 40th Street in Midtown.
“One World Trade Center is a beautiful location for our North America headquarters,” André Heinz, chief people and culture officer at Celonis, said in a statement. “The building is a point of pride for us as we continue to scale around the globe, and we love seeing the reactions from new employees, customers and partners when they visit.”
The asking rent on the expansion and the length of the adjusted lease was not immediately provided by Durst.
Mark Hallum can be reached at mhallum@commercialobserver.com.
