Lower Manhattan Leasing Boom Continues at 4 World Trade Center - High Rise Facilities

By: High Rise Facilities

Four more companies have recently signed leases for a combined 71,000 square feet of office space at Silverstein Properties’ 4 World Trade Center. To date, 1.36 million square feet have been leased, totaling 62 percent of the available space in the building.

The new tenants are PadillaCRT, a leading independent public relations and communications company; Dixon Hughes Goodman LLP, one of the top 20 public accounting firms in the U.S.; Syntactx, a Contract Research Organization that specializes in medical device, pharmaceutical, and genetics clinical trials; and Silver Suites Offices, a high-end pre-built executive offices company.

Janno Lieber, President of World Trade Center Properties, an affiliate of Silverstein Properties, said “These firms want to be in new, high-tech, green buildings right next to the best mass transit in the city and ultra-convenient to the Brooklyn, Lower Manhattan and New Jersey neighborhoods where their young talent is choosing to live.”

Silver Suites Offices is expanding from 7 WTC into 44,000 square feet on the 29th floor of 4 WTC, with 80 pre-built, business-ready offices and multi-room suites of varying sizes, many with breath­taking views. Silver Suites Offices at 4 WTC will open in October 2015 with a full complement of amenities and services as well as à la carte and all-inclusive packages designed to suit each company’s needs.

The 4 WTC leases follow a series of high-profile milestones for Silverstein Properties in Lower Manhattan: In June 2015, the company signed a letter of intent with 21st Century Fox and News Corp to move their headquarters into 1.3 million square feet at 2 WTC. The final tower planned for the 16-acre World Trade Center site is being designed by Bjarke Ingels Group and will open in 2020.

Late last year, the company financed and recommenced construction on 3 WTC. The Richard Rogers-designed 80-story tower is currently at the 31st floor, will top out towards the end of 2016 and will open in early 2018. GroupM, a media investment management group, signed a 20-year lease for 515,000 square feet on nine floors at the base of the building.

In January, the company topped-out the 82-story Four Seasons Hotel and Private Residences Downtown New York, and has sold 70% of the residences at 30 Park Place. That project will open mid-2016.

The area south of Chambers Street now boasts over 800 TAMI (Technology, Advertising, Media, Information) companies, ranging from scores of smaller, ambitious tech start-ups to media companies like Time Inc., Condé Nast and HarperCollins to cutting edge advertising and branding firms like Droga5, Group M and MediaMath.

According to the Downtown Alliance, 607 firms have moved to Lower Manhattan since 2005, leasing a total of 15.2 million square feet. Of those companies, 343 have been in TAMI or Professional Services fields, taking 58 percent of the space leased.

“In the last four and half years, over 10 million square feet have been leased or committed Downtown to companies that have relocated from Midtown or Midtown South,” said Jeremy Mossm Director of World Trade Center Leasing for Silverstein Properties. “That’s equal to the entire Austin, Texas central business district. This has turned a 60-year trend on its head.”

Designed by Pritzker-prize winning architect Fumihiko Maki to meet a LEED Gold standard of sustainability, 4 WTC is a model of transparency and efficiency. The 977 foot building contains 2.3 million square feet of light-filled, green and high-tech office space spread over 56 office floors.

News: 07.29.2015