Silverstein Properties announced that IEX, a next-generation stock exchange, has signed a 45,000 s/f lease at 3 World Trade Center in Lower Manhattan.
Currently headquartered at 4 World Trade Center, IEX’s upcoming move coincides with the exchange’s ongoing growth and expansion within the finance industry, spearheaded by co-founder and CEO Brad Katsuyama.
In 2013, IEX decided to make Downtown Manhattan its long-term base, leasing space on the 30th floor of 7 World Trade Center. Prompted by early-stage growth, IEX moved its office to 4 World Trade Center in 2015, where it currently occupies a 13,000 s/f space on the building’s 44th floor. IEX’s 3 World Trade Center location, occupying the building’s entire 58th floor, will feature a collaborative workspace that supports the exchange’s ongoing mission to build fairer markets. The exchange, now overseeing upwards of 160 million matched shares daily at a value of nearly $9 billion, has a staff of around 85 employees, nearly all of whom will be based out of 3 WTC.
“When we first considered choosing Lower Manhattan as the home for IEX, we couldn’t have predicted the positive impact it would have on our company’s culture and team,” said Katsuyama. “The new World Trade Center is drawing emerging creative and tech enterprises to the global capital of finance, creating a dynamic environment for us as we continue to grow and innovate.”
“The new World Trade Center is fast becoming New York’s creative and Fintech hub,” said Larry Silverstein, Chairman of Silverstein Properties. “Fast-growing, innovative companies such as IEX can grow, expand and succeed here in a way that’s simply not possible anywhere else.” Silverstein added: “As a result, the new World Trade Center has become the commercial heart of the city’s hottest neighborhood.”
Downtown Manhattan now houses over 242,000 private sector professionals, its highest employment level since 2001, according to a recent Downtown Alliance report. The Financial District topped all other New York City submarkets in office lease transactions in 2017, recording over 6.79 million square feet of new office space, a 31.7 percent increase year-over-year.
“IEX is emblematic of two forces shaping the new Lower Manhattan – technology and growth,” said Jessica Lappin President of the Alliance for Downtown New York. “Their expansion within the World Trade Center complex is a testament to the attractiveness of the campus and the growing and magnetic pull of our area.”
Designed by Pritzker-prize winning firm Rogers Stirk Harbour + Partners, and slated to open on June 6, 2018, 3 World Trade Center will be the fifth tallest building in Manhattan, and the second tallest at the World Trade Center site. With a total of 2.5 million square feet, the 80-story tower will feature 30,000 to 70,000 square-foot floors with 360-degree Manhattan views and 13-foot to 20-foot ceilings. Three floors (17, 60 and 76) offer access to outdoor terrace space.
3 World Trade Center is situated above the Oculus Transportation Hub, with direct access to a dozen NYC subway lines and PATH trains to New Jersey, and close to Westfield World Trade Center mall and Brookfield Place. One third of the building has been leased to date and the first tenants – WPP companies: Mindshare, Essence, GroupM, MediaCom, Metivision & Wavemaker [m]PLATFORM and Kantar – will begin moving in this summer.
Lease negotiations on behalf of IEX were handled by Rocco Laginestra, Rob Wizenberg and Michael Wellen of CBRE. Jeremy Moss and Camille McGratty of Silverstein Properties oversaw the lease signing on behalf of 3 World Trade Center along with a CBRE team that included Mary Ann Tighe, Stephen B. Siegel, Ken Meyerson, Evan Haskell, Adam Foster, Steve Eynon, Robert Hill and David Caperna.
Jeremy Moss, Executive Vice President of Silverstein Properties said: “Our proximity to the neighborhoods where tech talent live means companies like IEX, Spotify and GroupM can grow and thrive here at the World Trade Center.”