German tech firm expands by 40k sf at 1 WTC
Durst Organization reaches 95% leased threshold, highest yet
One tenant at One World Trade Center is more than doubling its footprint at the building, helping the owners reach a leasing benchmark.
German business process analytics firm Celonis is extending its lease and expanding to the entire 70th floor. The Durst Organization announced on Monday the company was adding more than 40,000 square feet.
The firm’s lease pushes One World Trade to being 95 percent leased, two percentage points higher than it was pre-pandemic.
The building has never been more occupied, according to Durst president Jonathan Durst.
A Savills team of Michael Mathias and Kirill Azovtsev represented Celonis in the lease extension and expansion. The landlord was represented by Eric Engelhardt and Karen Rose of Durst, as well as a Newmark Knight Frank team including David Falk and Jason Greenstein.
Celonis made its debut at One World Trade weeks before the pandemic forever altered the city’s office landscape, grabbing more than 34,000 square feet for the building’s 87th floor. The asking rent was $85 per square foot at the time; it’s not clear how much the landlord was asking in the extension and expansion.
Celonis was founded in Munich in 2011. It got its start by helping companies optimize their internal IT processes. Celonis also helps its clients optimize business performance.
The 3.1 million-square-foot Lower Manhattan skyscraper, the tallest building in the Western Hemisphere, was jointly developed by Durst and the Port Authority of New York and New Jersey. While it was only about 85 percent leased when Celonis initially signed on, the building has seen a flurry of activity recently.
Three tenants recently inked deals at the building, filling an additional 73,000 square feet. Business software company Templafy, advertising platform LiveIntent and investment management firm Jordan Park all recently signed leases at the skyscraper.
In December, it was reported the New York Liberty Development Corporation would be issuing bonds to refinance the building’s debt. The state agency reportedly approved $700 million in bonds on behalf of the Port Authority of New York and New Jersey.