In recent news, Condé Nast has announced that it will be subleasing a portion of its headquarters at 1 World Trade Center to the financial advisory firm Kroll. The agreement involves Kroll leasing 48,026 square feet on the 31st floor of the 104-story tower for a period of 10 years, with the rent set at $59 per square foot.
Kroll, founded in 1972 by Jules Kroll, is known for its corporate investigations and global operations. The firm is relocating its headquarters from Midtown to 1 World Trade Center, signaling a strategic decision for their business. This move was facilitated by Avison Young and JLL.
However, this deal comes amidst a challenging relationship between Condé Nast and its landlords, the Port Authority of New York and New Jersey and the Durst Organization. Previously, Condé Nast had subleased a significant portion of its space in the tower to various tenants.
As of now, there are still several floors of Condé Nast’s offices available for sublease. The exact amount of space that the company plans to retain in the tower is unclear. Both Durst and Condé Nast have not provided comments on this recent development.
