Back on May 10, global engineering and construction titan AECOM’s Tishman Construction division placed the final piece of 1 World Trade Center’s spire in place, finally topping out the tallest tower in the Western Hemisphere at its symbolic 1776-foot height. Now the major hurdle that’s left for the Port Authority (and its minority partner, the Durst Organization) is to finish finding tenants for the rest of the 3.5 million-square-foot, 104-story tower, which today remains only 55-percent leased just 18 months before it’s slated for occupancy. But industry experts are confident that the tower’s symbolic stature and advanced building technologies will be more than enough to attract tenants to the world’s third-tallest building, particularly as the remainder of the World Trade Center site, including the Fulton Street transit connection – are completed.
To date only a handful of tenants have signed up for space at 1 WTC. The GSA, Conde-Nast (1 million square feet, anchor tenant) and the Chinese real estate investment firm Beijing Vantone (200,000 square feet) all completed deals since 2009. But despite sluggish leasing progress thus far in 2013, and even with asking rents around $70 per square foot, technology, media, financial, and legal industry tenants have all expressed interest in the tower, demonstrating its flexibility for and attraction to tenants from a diverse range of industries.
Again, the SOM-designed 1 World Trade Center is on track for a LEED Gold rating from USGBC – it would become one of the largest buildings anywhere to earn that designation. As we’ve also described here previously, 1 World Trade Center has a target energy use 20 percent below code, advanced indoor air filtration systems, daylight control systems, and waste steam recycling, among other advanced building technologies. Whether those features play a role in attracting tenants to 1 World Trade Center’s Class A office space remains to be seen.
Image credit: Port Authority of NY & NJ via AECOM.