Leases  ·  Office

Energy Capital Partners Expands to 26K SF at 1 World Trade Center

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An energy investment firm is powering up to 26,292 square feet at 1 World Trade Center.

Energy Capital Partners (ECP) signed an 11-year lease for 15,400 square feet to more than double its space in the building, according to landlords the Durst Organization and the Port Authority of New York and New Jersey.

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ECP has expanded rapidly in the span of just six years after it moved into the building, according to the owners. It started with 6,173 square feet in June 2017 then tacked on another 4,179 square feet in January, bringing its total to 10,352 square feet until this latest deal closed.

Durst did not disclose the asking rent in the deal, but average asking rent Downtown was $81.73 per square foot in the third quarter of 2023, according to a CBRE report.

“With this robust leasing activity, along with the recent opening of the acclaimed Perelman Performing Arts Center, the World Trade Center is cementing its status as a go-to destination for employers and visitors alike,” Port Authority Executive Director Rick Cotton said in a statement. “The World Trade Center area is now bustling seven days a week with a renewed spirit that will only flourish further as we welcome more to the area.”

Eric Engelhardt and Karen Rose handled the deal for Durst in-house with help from Newmark (NMRK)’s David Falk, Peter Shimkin, Hal Stein, Jason Greenstein and Nathan Kropp.

Eric Zemachson and Corey Borg, also from Newmark, negotiated on behalf of the tenant.

Newmark did not immediately respond to a request for comment.

Other recent deals in the building include New York Life Insurance Company subleasing 47,355 square feet from Condé Nast in September, internet service provider Pilot Fiber NY with 12,456 square feet earlier that month and business software firm Templafy moving from a sublease to a more permanent, 44,133-square-foot lease in February 2022.

Mark Hallum can be reached at mhallum@commercialobserver.com.