Westfield v. Brookfield in heavyweight bout for Downtown retail

TRD New York /
Sep.September 11, 2013 11:37 AM

The Westfield Group wants to be champ of downtown retail – and is fighting Brookfield Properties for the title.

Westfield has signed dozens of tenants for about 360,000 square feet — nearly 90 percent — in the first retail properties at the 16-acre World Trade Center site, sources told the New York Post. The space is in the Transportation Hub Oculus and lower levels of two of Larry Silverstein’s office towers.

The global mall giant manages all the retail space at the site, which has asking rents from $500 to $600 per square foot. Apple, Abercrombie & Fitch, Swatch, J. Lindberg and Michael Kors are in the final stages for deals at the World Trade Center, which will have 460,000 square feet ready by 2015.

Brookfield has attracted Salvatore Ferragamo, Hermes and Burberry to its Brookfield Place, which will have 200,000 square feet available next year.

Westfield pays the Port Authority of New York & New Jersey $612.5 million for a joint-venture partnership to operate the retail complex, as previously reported. [NYP]Mark Maurer


Related Articles

arrow_forward_ios
Brookfield Place in Manhattan and Jared Chupaila, CEO of Brookfield Properties’ retail group (Getty; Brookfield)

Brookfield Properties to lay off 20% of retail division

Brookfield Properties to lay off 20% of retail division
Durst Organization chairman Douglas Durst and Advance Publications president Donald Newhouse with One World Trade Center (Newhouse by Ilya S. Savenok/Getty Images for The Association for Frontotemporal Degeneration; Unsplash)

Condé Nast may be moving out of 1 WTC

Condé Nast may be moving out of 1 WTC
Moody's CEO Raymond McDaniel and 1 World Trade Center (McDaniel by Alex Wong/Getty Images; Pixabay)

Moody’s looks to sublease its 1 WTC office

Moody’s looks to sublease its 1 WTC office
Unibail-Rodamco-Westfield CEO Christophe Cuvillier, Westfield Century City in Los Angeles and Westfield World Trade Center in New York (Getty, iStock, Google Maps)

Unibail-Rodamco sees 15% decline in US mall rents after offering deferrals

Unibail-Rodamco sees 15% decline in US mall rents after offering deferrals
Brookfield's Ric Clark and Two Hanson Place in Brooklyn (Credit: Google Maps, iStock)

Brookfield signs energy company to big lease in DoBro

Brookfield signs energy company to big lease in DoBro
Clockwise from left: Celonis co-founders Bastian Nominacher, Alexander Rinke, and Martin Klenk with 1 World Trade Center (Credit: Celonis)

German tech firm snags full floor at 1 WTC

German tech firm snags full floor at 1 WTC
The Bronx saw a particularly strong surge in development, including a tower in Brookfield Properties’ Bankside development (Credit: iStock)

City sees highest number of new building permits in years

City sees highest number of new building permits in years
Brookfield's largest-ever $15B property fund has invested in properties from New York (666 Fifth Avenue) to Bangalore (the Leela Palace hotel) (Credit: Brookfield, Getty Images, Leela)

Real estate fundraising hits lowest level since 2013

Real estate fundraising hits lowest level since 2013
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...