Fashion Design Software Firm CLO Takes 17K SF at 1 World Trade Center
By Celia Young January 5, 2023 4:39 pm
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Fashion design software developer CLO Virtual Fashion stitched together a sublease with cryptocurrency company Tzero Group for its 17,238-square-foot offices at 1 World Trade Center, Commercial Observer has learned.
CLO will take all of Tzero’s space on part of the 58th floor in an eight-year deal expiring at the end of Tzero’s term in 2031, said JLL’s Michael Berman, who represented the sublandlord with colleague Eliza Gordon. Berman declined to comment on the asking rent or why Tzero decided to give up its offices three years after moving into the tower.
Seoul-based CLO plans to move into the 104-story building from a WeWork at 16 East 34th Street, giving the firm more room for its increasing number of New York staffers, according to subtenant broker Newmark.
“CLO Virtual Fashion, alongside many other tech-centric companies, recognizes the importance of creating a cohesive, collaborative work environment for their growing workforce,” Newmark’s Mitch Heifetz, who represented CLO with colleague Brett Stein, said in a statement.
Other tenants at the Durst Organization and Port Authority of New York and New Jersey-owned 1 WTC include data processing firm Celonis, automation software developer Hyperscience and investment manager DADA Holdings.
Durst, CLO and Tzero did not immediately respond to requests for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
