Conde Nast close to signing 1 WTC deal

February 04, 2011 03:06PM

Publishing giant Conde Nast is likely to finalize its 1 million-square-foot lease at One World Trade Center by March, developer Douglas Durst told Crain’s today. The Durst Organization has a deal with the Port Authority of New York & New Jersey to buy a $100 million stake in the tower, and scored a major coup last year when the magazine behemoth agreed to relocate from 4 Times Square, which Durst also owns. The only tenant to actually sign a lease at the 2.6 million-square-foot project thus far is China’s Vantone Industrial, but Durst said two government agencies are also in negotiations to lease a combined 1 million square feet. If all of those deals go through, the tower, which is gunning for a coveted LEED Gold rating from the U.S. Green Building Council, will be 85 percent leased. In the meantime, Durst is planning a trip to China next week to attend an economic conference sponsored by Vantone, where he expects to hobnob with more potential tenants. [Crain’s]