The Real Deal New York

New tenant signs lease at One World Trade Center

KiDS Creative inked deal for 35,000 spread on tower's 87th floor

May 27, 2014 06:30PM

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World Trade Center

World Trade Center

After a three-year dry spell, a new tenant has signed a lease at One World Trade Center.

Advertising agency KiDS Creative is leasing the tower’s 87th floor – a spread of just under 35,000 square feet. The agreed-upon rent was over $90 per square foot. The deal with KiDS Creative, an off-shoot of Box Studios, an artistry firm based on West 14th Street that specializes in fashion branding for such lines as Dolce & Gabbana and Alexander Wang, comes amid news that rents are being reduced in the tower because “the market is not there,” as Douglas Durst, who partnered with the Port Authority in the tower’s development, previously told the Wall Street Journal.

The building’s first private sector tenant, China Center NYC, announced on Thursday that it wants to cut its commitment at One World Trade Center in half, to about 100,000 square feet divided over the 88th, 89th and 90th floors.

The KiDS deal also comes amid a recent media, digital and technology firm flight Downtown. Last week, the Post reported that technology firm Percolate is in talks to lease 40,000 square feet at One World Trade Center, and publishing powerhouse Condé Nast is the building’s largest tenant with more than 1.1 million square feet.

Right now, One World Trade Center is more than 55 percent leased. [NYP] — Claire Moses 

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