World Trade Centers Association Leases 3K-SF Office in Namesake Campus

The international trade organization that took its name from the World Trade Center is re-establishing a headquarters presence at the campus.

The World Trade Centers Association (WTCA), which bought the rights to the name in the 1980s, has signed a lease for 2,556 square feet on the 46th floor of the Durst Organization and the Port Authority of New York and New Jersey (PANYNJ)’s One World Trade Center after a 25-year absence, according to the organization.

The length of the lease and the names of brokers on the deal were not disclosed, but the asking rent for the tower was in the ​​high $80s to $90s per square foot as of July, Commercial Observer reported at the time.

“Returning our global headquarters to One World Trade Center is both a meaningful homecoming and a significant milestone for WTCA and our continued growth as a global organization,” John Drew, chair of the WTCA board of directors, said in a statement. “This new office space gives us a dynamic setting — and a fitting global address — to bring together members and partners from around the world as we continue building connections that support trade, investment and economic growth.”

The WTCA bought the license to use the World Trade Center name from the PANYNJ for just $10 and has since been licensing it back out to PANYNJ and other organizations. But in 2013, it was reported that the WTCA was attempting to make a deal with owning private-public partnerships, allowing them to use the name free of charge in exchange for office space valued at $500,000 per year.

WTCA, Durst and the PANYNJ did not immediately confirm whether any elements of this proposal made it into the framework of the current lease deal.

At the time of the 2013 request by WTCA, PANYNJ officials expressed concern that another organization bought the trademark for such a low price and was later allegedly leveraging it to get a slice of what would be one of the most sought-after office properties in the country.

“For more than two decades, the Port Authority has invested in rebuilding the World Trade Center as a place that drives economic growth and brings together commerce, culture and community in the heart of Lower Manhattan,” Jolene Yeats, WTC director at the PANYNJ, said in a statement. “Welcoming the World Trade Centers Association back to the site of its original headquarters is another exciting step in fulfilling that vision — there’s no place more fitting for its mission of building new bridges and creating new connections.”

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