GroupM Leases 516,000 SF at 3 World Trade Center
20 Year Pre-Lease to Commence in 2017
GroupM, a media investment management group, has pre-leased approximately 516,000 square feet on nine floors at 3 World Trade Center - the 80-story, 2.86 million-square-foot office tower currently under construction at 175 Greenwich St. in New York City.
The deal represents the first signed at the building, and is the largest office lease signed in Manhattan this year, according to the landlord. The lease solidifies the project, allowing developer Silverstein Properties to move forward with final financing and construction of the tower.
When the building delivers in 2017, GroupM will open its doors in the base of the tower with more than 2,400 employees consolidated from several Midtown locations.
Designed by Rogers Stirk Harbor + Partners, 3 WTC will offer a major concentration of more than 183,000 square feet of street-level and underground, pedestrian-concourse retail with connections to 11 subway lines and the PATH system. The sustainably-built tower will consist of reinforced concrete core with steel structure and frame, and will feature floor-to-ceiling windows, column-free floor plates, 58 stories of office space, and LEED certification.
"GroupM is looking forward to becoming part of one of the most vibrant and important neighborhoods in New York City," said Kelly Clark, CEO of GroupM North America. "I want to thank and congratulate everyone who helped us reach this exciting, historic agreement - especially Governor Cuomo, Mayor Bloomberg, and all of their associates at the state and city levels."
Including GroupM, more than five million square feet of office space has now been leased at the new World Trade Center. Other companies that have committed to the phoenix-esque site include Condé Nast, BMI, Omnicom, Moody's, WilmerHale, the GSA, and Fast Company and Inc. magazines.
"Our agreement with GroupM to be the first tenant for 3 World Trade Center is another in a string of huge milestones at the World Trade Center," said Larry A. Silverstein, President & CEO of Silverstein Properties, Inc. "Our firm recently opened 4 World Trade Center, the first tower to be completed at the 16-acre site. In addition, 2014 will see the completion of One World Trade Center and the 9/11 Museum."
Mary Ann Tighe, Gregory Tosko, Lauren Crowley Corrinet, and Brendan Herlihy with CBRE represented the tenant. Jeremy Moss, director of WTC leasing for Silverstein Properties handled lease negotiations for the landlord in-house, along with the CBRE WTC agency team led by Peter Turchin and Stephen Siegel.