JLL has completed two new sublease transactions for Condé Nast Inc. at One World Trade Center in Lower Manhattan. Ennead Architects LLP took 47,252 square feet and Ambac Financial Group Inc. signed for 46,927 square feet, with the firms subleasing a total of 94,179 square feet of Condé Nast’s office space at the Class A, 3.5 million-square-foot office tower.
Sublandlord Condé Nast was represented by Peter Riguardi, chairman and president of the New York region; Joseph Messina and Steven Rotter, vice chairmen; Jessica Berkey, executive vice president; Andrew Coe and Brett Harvey, vice presidents, all with JLL. Sublessee Ennead Architects was represented by John Johnson Jr., executive managing director, and Nicholas Farmakis, senior managing director, both with Savills Studley. Sublessee Ambac Financial was represented by Michael Monahan, vice chairman, and Adam Foster, executive vice president, both with CBRE Group Inc.
“We have seen a great deal of interest in Condé Nast’s offices at One World Trade Center,” said Rotter. “The company is offering one of the best blocks of creative space available in Lower Manhattan in an iconic building. Ennead and Ambac’s commitments to remain in Lower Manhattan demonstrate a resurgence of interest in the Downtown office space.”
Ennead Architects inked a 20-year sublease for 47,252 square feet of office space and will occupy the entire 40th floor at One World Trade Center. The architectural firm is relocating to the building from 320 West 13th Street, also known as 2 Gansevoort Street. The tenant expects to relocate to its new space at One World Trade Center this summer.
Ambac Financial inked a 10-year sublease for 46,927 square feet of office space and will occupy the entire 41st floor at One World Trade Center. The company, which provides financial guarantees to clients in the public and private sectors globally, is relocating to the building from 1 State Street. The tenant expects to relocate to its new space at One World Trade Center this summer.
JLL was selected by Condé Nast in 2018 to sublease as much as 350,000 square feet of its space at One World Trade Center. The media company occupies approximately 1 million square feet at the Lower Manhattan office tower.
The 104-story One World Trade Center, 285 Fulton Street, was designed by Skidmore, Owings & Merrill and construction was completed in 2013. The office tower is located in Lower Manhattan at the intersection of Fulton and West streets, and is adjacent to the 9/11 Memorial.
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2017, the New York tri-state team completed approximately 40.9 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $1.6 billion; managed projects valued at $7.9 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 147.8 million square feet.
