First WTC lease slated to be signed tomorrow

March 25, 2009 08:59AM

The first office lease in the rebuilt World Trade Center is expected to be signed tomorrow, according to sources familiar with the deal. The China-based Beijing Vantone Real Estate Company has reportedly completed negotiations to take about 190,000 square feet in the Freedom Tower, and the Port Authority of New York and New Jersey is slated to approve the deal at a board meeting tomorrow. The Chinese firm has almost had deals at two other downtown locations, including Larry Silverstein’s 7 World Trade Center and L&L’s 195 Broadway, both of which fell apart in negotiations. The Freedom Tower deal calls for a lease of approximately 23 years with rents starting at $80 per square foot.

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