Advertising company Constellation Agency has signed a lease for 48,000 square feet at One World Trade Center — the entire 21st floor.
The agency is subleasing the space from Advance, which is offering some 400,000 square feet of space for sublease at One World Trade. In total, the company, which is the parent of Conde Nast, has 1.1 million square feet.
Constellation Agency is moving from 110 William Street.
Recently Reddit signed a sublease for 40,000 square feet on the entire 33rd floor of One World Trade Center.
The subleases by One World Trade tenants don’t directly benefit the building’s co-owners, the Durst Organization and the Port Authority of New York and New Jersey, but do help indirectly by filling unused space. The building is 90 percent leased, a Durst spokesperson said, down from a peak of nearly 93 percent just before the pandemic.
JLL’s Peter Riguardi, chairman and president of the New York tri-state region, and Joseph Messina and Steven Rotter, vice chairmen, represented Advance in the latest transaction. Dale Schlather, executive vice chairman, and Greg Herman, director, with Cushman & Wakefield represented Constellation Agency.
“The leasing momentum for the Advance space at One World Trade Center highlights the superior quality of the design and the growing interest in Lower Manhattan by technology and creative firms,” Riguardi said in a statement. “The available space provides tenants with significant flexibility, spectacular views and access to abundant amenities.”
The pandemic saw a plethora of offices place their workspaces up for rent. However, more recently, the sublease surge has slowed as the potential for return to work looms ahead. Between February and June, over 1 million square feet of space has been withdrawn from the Manhattan market.