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Old December 24th, 2013, 06:45 PM   #3421
wtcforever
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I guess 3 wtc is going to be built!!
GroupM to Move to 3 World Trade Center
12.23.2013

Silverstein Properties announced today that GroupM, the world's leading media investment management group, has signed a 20-year lease at 3 World Trade Center. The firm will occupy approximately 516,000 square feet on nine floors at the base of the 80-story tower, currently under construction in Lower Manhattan.

GroupM, which becomes the first tenant to lease space in the building, will consolidate its 2,400 employees from several Midtown locations to 3 World Trade Center when it moves into the building, which will open in 2017. With this lease, developer Silverstein Properties will now move forward to complete the financing and construction of the tower at 175 Greenwich Street.

With the GroupM lease, a total of five million square feet of office space has now been leased at the new World Trade Center. Companies that have moved or committed to space include Condé Nast, BMI, Omnicom, Moody's, WilmerHale, Fast Company and Inc. magazines.

"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."

"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. I congratulate GroupM and thank our government partners at the World Trade Center for helping ensure continued momentum in Lower Manhattan."

According to the Downtown Alliance, 455 firms have moved to Lower Manhattan since 2005, leasing a total of 10 million square feet. 211 of those companies have been in creative or professional services, taking 51% of the space leased.

"GroupM's move to 3 WTC is another testament to the ongoing transformation of Lower Manhattan. $30 billion in public and private investment is manifesting itself in state of the art buildings, unsurpassed regional transit options, cutting edge telecom, exciting retail and dynamic open space," said William Bernstein, acting President of the Alliance for Downtown New York. "Leaders in the worlds of media, technology and creative services are making Lower Manhattan their home in increasing numbers. They are joining pillars of Downtown - like finance and law - to help realize the full promise of this district and animate the spectacular buildings at the Trade Center."

Lease negotiations for GroupM were handled by the CBRE team led by Mary Ann Tighe, Gregory Tosko, Lauren Crowley Corrinet and Brendan Herlihy. Jeremy Moss, Director of World Trade Center leasing for Silverstein Properties, together with the CBRE WTC agency team, handled lease negotiations for the landlord.

Designed by Pritzker-prize winning architect Richard Rogers and his firm Rogers Stirk Harbor + Partners, 3 WTC will enliven and seamlessly integrate into Downtown's streetscape, with a major concentration of retail - both at the street-level and in underground pedestrian concourses that lead directly to 11 subway lines and the PATH trains.

"Congratulations to GroupM and Silverstein Properties on this important milestone," said Catherine McVay Hughes, Chair of Community Board One. "The ability to get the financing in place now is important so that the build out of 3 WTC continues to completion. The community cares about this because it means that the sidewalks on Dey & Cortland Streets and Greenwich & Church Streets will be restored and open. In addition, there will finally be access to the major transportation hub which has the PATH and subway lines as well as fine shopping along the way."

According to a study published by the Downtown Alliance last year, "the high-value knowledge workers who drive the region's economy - the people companies want to hire - increasingly live within a 30-minute commute of Lower Manhattan."

The "Brain Gain" report stated: "Extensive residential development and dramatic neighborhood revitalization in Manhattan, Brooklyn, and New Jersey's Hudson River wa*terfront cities have attracted huge numbers of young, educated people, workers in the professional and creative fields that drive leasing in New York City - who prefer apartment living and shorter commutes via sub*way, PATH, ferry, bike and foot to suburban life and lengthy commutes via heavy rail or car...Nine of the region's ten fastest growing communities are within a 30-minute subway or PATH ride of Lower Manhattan."

3 World Trade Center is a model of transparency and sustainability. The tower consists of a reinforced concrete core with steel structure outside the core, and is clad in an external structural steel frame. The building features floor to ceiling glass, and all four corners and each floor plate of the tower are column-free to create an open workspace environment - key for cutting-edge companies in brainpower driven businesses like technology, advertising and branding, as well as law and financial service firms. 3 World Trade Center will be a LEED-certified Gold office tower.

The 1,170 foot (357 meter) building contains 2.5 million square feet (232,258 square meters) of light-filled, green and high-tech office space spread over 58 office floors. GroupM will occupy five 68,000 square feet (6,317 square meter) office floors at the base of the building and four 44,000 square feet (4,087 square meter) floors just above the base. The building also contains 183,000 square feet (17,000 square meters) of destination retail.
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Old December 24th, 2013, 07:32 PM   #3422
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So they lease only 1/5th (20%) of the total space? Glad that this is enough to start, but I may hope Silverstein will find more tenants soon..
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Old December 24th, 2013, 11:21 PM   #3423
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Praise baby Jesus!!! ������ this is so exciting!! Next 2WTC!!!
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Old December 25th, 2013, 02:37 PM   #3424
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Quote:
Originally Posted by germantower View Post
Since the Coach tower is almost leased out and a big part of the North tower of the HY is leased, and throwing in the scarce of class A office space in this city, i am quite sure it won´t take one full year to find a tenant for tower two.
Considering that 80% of tower 3 remain to be filled and tower 1 and 4 are not completely full as well, I guess you need a bit more patience.. Larry certainly wants to fill up tower 3 before he builds another one
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Old December 25th, 2013, 05:56 PM   #3425
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but according to the article, only the floors at the base of the building will be taken. the tower floors will still be empty
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Old December 25th, 2013, 06:10 PM   #3426
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Quote:
Originally Posted by oli83 View Post
Considering that 80% of tower 3 remain to be filled and tower 1 and 4 are not completely full as well, I guess you need a bit more patience.. Larry certainly wants to fill up tower 3 before he builds another one
Larry would build T2 well before T3 fills if he could get a loan, but he won't get financing for T2 until he has commitments for at least 1m sf.
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Old December 25th, 2013, 11:59 PM   #3427
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Old December 26th, 2013, 01:46 AM   #3428
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image hosted on flickr

Untitled by 600West218, on Flickr

From Christmas day. I wonder why the crane tower just sits there?
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Old December 26th, 2013, 01:52 AM   #3429
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Speaking of which, they need to set it up so they can resume vertical construction.
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Old December 26th, 2013, 01:24 PM   #3430
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Quote:
Originally Posted by wtcforever View Post
but according to the article, only the floors at the base of the building will be taken. the tower floors will still be empty
From the article:

"... GroupM will occupy five 68,000 square feet (6,317 square meter) office floors at the base of the building and four 44,000 square feet (4,087 square meter) floors just above the base…"
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Old December 26th, 2013, 02:42 PM   #3431
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I agree, but it still leaves the major part of the tower floors empty. So I hope more tenants will follow soon.
Group M signing may help because potential tenants now know this tower will be built for sure.
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Old December 26th, 2013, 02:49 PM   #3432
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That's not a big lease at all. Only 5% if that article is correct.
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Old December 26th, 2013, 02:53 PM   #3433
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We've got years of construction to go before it's finished. It will be (mostly) filled by the time it tops out. All it needed was a jump start.

Glad to see this get moving. Praise GroupM I suppose?
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Old December 27th, 2013, 12:59 AM   #3434
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Quote:
Originally Posted by L.A.F.2. View Post
That's not a big lease at all. Only 5% if that article is correct.
More like 20%. Group M is taking over 500,000 sq ft of the 2.5 million sq ft of office space in WTC 3.
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Old December 27th, 2013, 01:07 AM   #3435
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This is where I got it from, though I suspected it was wrong.
Quote:
GroupM will occupy five 68,000 square feet (6,317 square meter) office floors at the base of the building and four 44,000 square feet (4,087 square meter) floors just above the base
However, I just saw this part:
Quote:
The firm will occupy approximately 516,000 square feet on nine floors at the base of the 80-story tower, currently under construction in Lower Manhattan.
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Old December 27th, 2013, 03:44 AM   #3436
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Quote:
Originally Posted by L.A.F.2. View Post
This is where I got it from, though I suspected it was wrong.


However, I just saw this part:
Five floors @ 68,000 square feet (340k sq ft.)
+
Four floors @ 44,000 square feet (176k sq ft.)
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516,000 square feet
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Old December 27th, 2013, 03:21 PM   #3437
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Quote:
Originally Posted by SomeKindOfBug View Post
We've got years of construction to go before it's finished. It will be (mostly) filled by the time it tops out. All it needed was a jump start.

Glad to see this get moving. Praise GroupM I suppose?
Yes...Cheers to GroupM. Absolutely!!

Right now this tower is under rated in the whole WTC complex, but once this goes vertical and cladding starts, this tower will stun IMO like 4 WTC has surprised many people.

This tower will be the black sheep of the group with its industrial design (even if it's the smooth out version) and that's a good thing. #excited43WTC
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Old December 29th, 2013, 06:03 PM   #3438
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Problem is it used to be a great design with the central cross bracing. Now it is removed the tower is much more banal.
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Old December 29th, 2013, 10:45 PM   #3439
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In my opinion, I think it looks better without the bracing. It now has a smoother appearance like it's neighbor 4 WTC.
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Old December 29th, 2013, 10:52 PM   #3440
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1WTc and 4 WTC are smooth enough IMO. Good to have some variation.
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