The Real Deal New York

Ad firm doubles space at 1 WTC

xAd will occupy about 85K sf between 60th and 61st floors of Durst building

November 04, 2015 11:30AM

1 WTC Douglas Durst

From left: 1 World Trade Center and Douglas Durst

A mobile advertising company doubled its footprint at the Port Authority of New York and New Jersey and Durst Organization’s One World Trade Center.

Near the one-year anniversary of 1 WTC’s opening, xAd agreed to lease the 61st floor of the glass tower, adding to the roughly 42,000 square feet of space it occupies on the floor below.

Jon Mayeske and Jamie Katcher of Cushman & Wakefield brokered the deal for xAd. Eric Engelhardt of the Durst Organization and Tara Stacom of Cushman & Wakefield represented the owners. Terms of the deal were not available.

After a somewhat sluggish start, the Durst Organization has managed to find a number of big tenants to fill the office tower.

Anchor tenant Conde Nast lays claim to 1.2 million square feet on floors 20-44 at 1 WTC, and Moody’s recently signed a deal to lease 75,312 square feet. That deal will help cushion the blow of a Chinese firm, the Vantone Group, walking back on its commitment to occupy 202,000 square feet. Vantone will instead take roughly 31,000 square feet on a higher floor. About 1.98 million square feet of the 3.1 million-square-foot building has been filled since the fall 2014 opening, the New York Post reported.

A report from New York University’s Rudin Center for Transportation estimated that the Port Authority will eventually recoup about 98 precent of its $16.7 billion investment into the World Trade Center complex, largely on the back of anticipated revenue, federal funds and lease payments. [NYP]James Kleimann