German tech firm snags full floor at 1 WTC

Building is now more than 85% leased

TRD NEW YORK /
Feb.February 11, 2020 09:05 AM
Clockwise from left: Celonis co-founders Bastian Nominacher, Alexander Rinke, and Martin Klenk with 1 World Trade Center (Credit: Celonis)

Clockwise from left: Celonis co-founders Bastian Nominacher, Alexander Rinke, and Martin Klenk with 1 World Trade Center (Credit: Celonis)

A German business process analytics firm is the latest tech company to land new digs in Lower Manhattan.

Munich-based “process mining” company Celonis has signed a 34,328-square-foot lease for the entire 87th floor at One World Trade Center, the New York Post reported.

The Port Authority of New York and New Jersey and the Durst Organization’s 94-story tower is now more than 85 percent leased, according to the Post. The asking rent was $85 per square foot. The tower has taken some time to lease up, initially only reaching 20 percent occupancy after four years of being open. A leasing manager for the building had previously said part of the issue was that the tower was on a site that’s been under construction for nearly two decades.

The tech company’s U.S. headquarters was previously located at 119 West 40th Street near Bryant Park. Blackstone acquired the delinquent $160 million mortgage on that office building in 2014, and sold the property to Clarion Partners for $282 million in 2018.

Founded in Munich in 2011, Celonis got its start helping companies such as Bavarian broadcaster Bayerischer Rundfunk optimize their internal IT processes.

The company now counts Uber, Citi and L’Oréal among its major users, and was valued at $2.5 billion following a $290 million Series C funding round in November. [NYP] — Kevin Sun


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