Investment Advisory Company The Stagwell Group Signs Lease for 83,955 Square Feet on the 62nd and 63rd Floors of One World Trade Center

The Durst Organization and The Port Authority of New York and New Jersey today announced The Stagwell Group LLC signed a 13-year lease for 83,955 square feet on the 62nd and 63rd floors of One World Trade Center. One World Trade Center is currently 75% leased, and 160,000 square feet has been signed at the property in the first half of 2017.

“We are pleased to welcome The Stagwell Group to One World Trade Center,” said Jonathan (Jody) Durst, President of The Durst Organization. “Stagwell is rapidly expanding its portfolio of companies, and we are thrilled they have chosen One World Trade Center as the location to integrate its disparate offices into one location.”

“We are excited to be able to make an amazing new space for digital creatives and will be bringing together a great group of portfolio companies to foster synergies in a dynamic new workspace. We could find no better place for this new concept than One World Trade Center,” said Mark J. Penn, the President and Managing Partner of The Stagwell Group.
The Stagwell Group was represented by Managing Director Michael Berg, Managing Director Howard Hersch and Associate Doug Kauffman of JLL. The Landlord was represented by Tara Stacom and her team at Cushman & Wakefield and Senior Managing Director Eric Engelhardt of The Durst Organization.

“Stagwell joins a growing and vibrant community of creative companies at One World Trade Center,” said Eric Engelhardt of The Durst Organization. “More than 15 TAMI companies, from tech start-ups to fashion icons make One World Trade Center an epicenter of innovation and inspiration in Lower Manhattan.”

The Stagwell Group LLC is a registered investment advisory company formed by Mark Penn who serves as President and Managing Partner of Stagwell Media LLC, a private equity fund. The Stagwell Group portfolio includes public opinion research leader Harris Insights & Analytics, leading integrated performance-driven global marketing firm PMX Agency, creative digital firm Code and Theory, strategic communications firm SKDKnickerbocker and entertainment research firm National Research Group (NRG). Stagwell Group has also made a strategic investment in public relations firm Finn Partners and created communications agency Wye Communications. The fund previously announced it has raised $250 million in capital and may leverage that to make up to $750 million in acquisitions.

One World Trade Center sets new standards of design, construction, sustainability and beauty and heralds the revitalization of Lower Manhattan. Managed, operated, and leased by The Durst Organization and built by The Port Authority of New York and New Jersey, One World Trade Center is an icon of New York's skyline, a center of innovation and creativity, and the most recognized office address in the world.

One World Trade Center recently opened One World Commons, located on the 64th floor and powered by Convene, to serve as a world-class corporate and social hub, a “third-space.” It is purpose-designed for workers to get away from the traditional office, but also fosters workplace creativity, collaboration, learning & development, and ultimately – a sense of place and community. The premium floor features: conference and event rooms with state-of-the-art technology, common areas and lounges including a café with a barista bar operated by For Five Coffee Roasters and Grab-a-Go food station and a complimentary multimedia parlor with pool, ping-pong and shuffle board.

The Durst Organization, founded in 1915 by Joseph Durst, is the owner, manager and builder of 13 million square feet of premiere Manhattan office towers and 1,950 residential rental units with 3,400 in development. The Durst Organization is recognized as a world leader in the development of high-performance and environmentally advanced commercial and residential buildings.

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity.


CONTACT: Jordan Barowitz

Publication The Durst Organization
Date 2017-07-12
Author Jordan Barowitz