Larry Silverstein’s 4 World Trade Center has snagged a new tenant, Chicago based investment research firm Morningstar Inc.
Morningstar is now the second private company to take space there, having signed a ten year lease for 30, 000 square feet of office space on the new tower’s 48th floor. It is expected to move in sometime in 2015. The firm will be moving its offices from the Dime Savings Bank Building on Sixth Avenue in Midtown.
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Jeremy Moss, director of World Trade Center leasing for Silverstein Properties, negotiated in-house on behalf of the firm.
“We conducted an extensive search, and we love the building’s design. Moving Downtown allows us to double our capacity for staff in New York, ” said Morningstar chief executive Joe Mansueto.
“We’ll design it like other Morningstar offices around the globe, with an open environment that reflects our culture and our commitment to transparency and collaboration. We look forward to hosting clients in our new space next year, ” he added.
This follows MediaMath who signed for 106, 000 square feet there back in May. The Port Authority of New York and New Jersey will take up 520, 000 square feet of office space there and the City of New York will use 600, 000 square feet at 4 WTC.
The 2.3 million square foot 4 WTC is now 55% leased and it hasn’t even opened for business yet. Designed by architect Fumihiko Maki, the building is located on Greenwich Street right by the 9/11 memorial Museum.
The building should not have much trouble filling up as lower Manhattan office buildings currently have about a 10% vacancy rate and this includes all of the older buildings that lack the more modern facilities that 4 WTC will have.
In a prepared statement Larry Silverstein said, “The new World Trade Center is open and great companies want to be here. After all the years of planning and building, the future has finally arrived at the World Trade Center, just as Lower Manhattan is reaching its full potential as the world’s most dynamic and modern live-work community.”