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It’s Not Easy Being Expensive…

May 30, 2014

Hey, would you like some office space in a nice building?  Would you like to pay a lot for it?  One World Trade has some openings.

Only four companies have signed on to base their operations in the World Trade Center as the majority of the world’s most expensive office building remains available for rent.

Magazine publishing company Conde Nast are the largest tenants, having claimed 24 floors starting on the 20th floor.

The China Center, a company that provides office space for Chinese businesses, has signed on for floors 64 through 69.

A hospitality management company, Legends Hospitality, has purchased 100,000 square feet on the 100th, 101st, and 102nd floors which includes the observation deck.

The fourth tenant?  The government… GSA grabbed some space.  Apparently prices for the space are about $15-$20 per square foot more than nearby buildings with less reputation.  Hey, renting new space is tough anyway, and paying for an expensive building project makes it even harder.

And I thought someone quoting me nearly $2 a square foot was egregious last year…

 

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