By Konrad Putzier
In downtown Manhattan, creating small, pre-built offices in landmark skyscrapers appears to be a growing trend.
The Durst Organization announced on Tuesday that it will subdivide two floors of its office tower One World Trade Center, currently under construction, into up to 18 small offices ranging from 2,000 to 20,000 s/f.
The step emulates a strategy Silverstein Properties successfully employed in its tower 7 World Trade Center. In a press release, The Durst Organization said it will set aside the 45th and 46th floor of the 1,776 ft. skyscraper for pre-built offices — a total area of 94,000 square feet. Construction of the offices is scheduled to start in 2014, with occupancy beginning on January 1, 2015.
The Durst Organization described the step as a response to market demand.
“There is demand, from across the globe, from large multinational companies to establish a presence at One World Trade Center,” said Eric Engelhardt, vice president, director of leasing at One WTC for The Durst Organization. “These potential users need a New York flagship at a building with a globally recognized address that speaks to their international reach and prestige.”
One World Trade Center, developed as a joint venture of The Port Authority of New York and New Jersey and The Durst Organization, is 55%-leased ahead of its scheduled opening in 2015. It has found notable tenants in Conde Nast, Vantone China Center, the U.S. General Services Administration and Legends Hospitality Group.
Cushman & Wakefield — in conjunction with The Durst Organization — is conducting the global marketing campaign in support of the building. The Cushman & Wakefield team is led by executive vice chairman Tara Stacom.
“The pre-built program provides an opportunity for a smaller tenant to immediately occupy space in a prominent building,” Stacom said. “We will also build space tailored to a tenant’s specific needs.”
If neighboring 7 World Trade Center is any indication, the program could be a success. In January this year, that building’s owner, Silverstein Properties, equipped it with the “Silver Suites” — 61 small offices ranging from 100 to 1,000 s/f. According to a company spokesman, 85% of the offices are currently leased out to tenants that include Blackfield Capital, a hedge fund, which has taken 18 offices including two corner offices; Communication Partners & Associates, a public relations firm, which has taken one corner suite; Syntactx, a healthcare company that specializes in medical device trials and has taken three offices; Tanexis Productions, an entertainment company that has taken two offices and other firms in the fields of technology, advertising and law, according to Silverstein Properties.
