The Durst Organization and The Port Authority of New York and New Jersey announced The Stagwell Group LLC signed a 13-year lease for 83,955 square feet on the 62nd and 63rd floors of One World Trade Center.
The Durst Organization and The Port Authority of New York and New Jersey announced The Stagwell Group LLC signed a 13-year lease for 83,955 square feet on the 62nd and 63rd floors of One World Trade Center. One World Trade Center is currently 75 percent leased, and 160,000 s/f has been signed at the property in the first half of 2017.
Jonathan (Jody) Durst, President of The Durst Organization, said, “Stagwell is rapidly expanding its portfolio of companies, and we are thrilled they have chosen One World Trade Center as the location to integrate its disparate offices into one location.”The Stagwell Group was represented by Managing Director Michael Berg, Managing Director Howard Hersch and Associate Doug Kauffman of JLL. The Landlord was represented by Tara Stacom and her team at Cushman & Wakefield and Senior Managing Director Eric Engelhardt of The Durst Organization.“Stagwell joins a growing and vibrant community of creative companies at One World Trade Center,” said Eric Engelhardt of The Durst Organization.
“More than 15 TAMI companies, from tech start-ups to fashion icons make One World Trade Center an epicenter of innovation and inspiration in Lower Manhattan.” The Stagwell Group LLC is a registered investment advisory company formed by Mark Penn who serves as President and Managing Partner of Stagwell Media LLC, a private equity fund. The portfolio includes public opinion research leader Harris Insights & Analytics, lglobal marketing firm PMX Agency, creative digital firm Code and Theory, strategic communications firm SKDKnickerbocker and entertainment research firm National Research Group (NRG).
Stagwell Group has also made a strategic investment in public relations firm Finn Partners and created communications agency Wye Communications. The fund previously announced it has raised $250 million in capital and may leverage that to make up to $750 million in acquisitions.One World Trade Center recently opened One World Commons, located on the 64th floor and powered by Convene, to serve as a corporate and social hub, a “third-space.” The floor features conference and event rooms, common areas and lounges, a café with a barista bar operated by For Five Coffee Roasters, Grab-a-Go food station and a parlor with pool, ping-pong and shuffle board.