Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Rents cut nearly 10 per cent at 1 World Trade Center amid slow leasing activity, owners say

NEW YORK, N.Y. - The owners of the World Trade Center's signature skyscraper are slashing office rents nearly 10 per cent because they can't find enough tenants.

The Wall Street Journal (http://on.wsj.com/1jVTyVD ) reports that 1 World Trade Center is 55 per cent leased. It says no private office tenant has signed a lease in almost three years.

The owners are cutting asking rents to $69 a square foot for larger tenants on the building's middle floors. Developer Douglas Durst tells the newspaper that's down from $75 a square foot.

Durst bought a stake in the 1,776-foot tower from the Port Authority of New York and New Jersey in 2011.

Major tenants in the building include magazine publisher Conde Nast and the government's General Services Administration.

The skyscraper, the nation's tallest building, is scheduled to open later this year.

___

Information from: The Wall Street Journal, http://www.wsj.com

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates