Image courtesy of Michael Vadon’s Flickr
April 25, 2018
Condé Nast will sublease nearly one-third of its One World Trade Center headquarters
It was recently revealed that One World Trade Center still has a 25 percent vacancy rate four years after opening its door, and that number is about to grow. The first tenant to move into the building in 2014, Condé Nast is now looking to sublease a third of its one-million-square-foot office space. As part of its consolidation plan, the media company on Monday said it's looking to sublease seven of the 23 floors it currently rents as a way to cut costs, according to the New York Post. It's estimated Condé Nast paid roughly $50 per square foot when it moved in nearly four years ago--space at One WTC is now worth $75 per square foot.
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