From left: Westfield’s David Ruddick, 7 World Trade Center and a rendering of WTC retail
In its effort to slay some 365,000 square feet of retail at the World Trade Center complex, Westfield Group has moved right into the belly of the beast. The retail landlord has opened a 5,300-square-foot office on the 37th floor of 7 World Trade Center and is bringing top executives from around the world to staff the office and find tenants for the space, the New York Observer reporter. [more]
From left: 4 WTC and the Transportation Hub
The first retail stores at the World Trade Center site could open for business by March 2015, Australian mall operator Westfield announced yesterday. Westfield, which has a 50 percent stake in the WTC site’s retail space, said the first retailers will be announced in the first half of next year. The openings would come more than 13 years after the destruction of the World Trade Center towers. [more]
From left: Westfield CEO Peter Lowy, Port Authority Director Patrick Foye, retail at 4 WTC and the WTC Transportation Hub
By sending the first installment of a $612.5 million payment to the Port Authority of New York & New Jersey, Westfield Group officially sealed the deal to take a 50 percent stake in the World Trade Center’s 460,000 square feet of retail space, the New York Post reported. [more]
Unlike its Grand Central Terminal, where the Metropolitan Transportation Authority directly leases space to tenants and has become known as something of a difficult landlord, the MTA will lease all the space in the forthcoming Fulton Street Transit Center to one company and let that firm manage it. According to the Wall Street Journal, the agency hopes to make it a shopping and dining destination.
Once complete in 2014, the three-story glass and steel structure at the corner of Fulton Street and Broadway will have 70,000 square feet of retail space. … [more]
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