The federal government is returning to the World Trade Center.
The General Services Administration announced on Wednesday that it has signed a lease to occupy 270,000 rentable square feet on six floors at One World Trade Center in New York City.
The lease was signed with the Port Authority of New York and New Jersey and the Durst Organization.
“This reaffirms the federal government’s commitment to the redevelopment of the World Trade Center site and to this project that demonstrates the undaunted resilience of the American people. There will once again be a federal presence in the World Trade Center, as there was from its beginning,” said GSA Acting Administrator Dan Tangherlini. “We worked closely with the Port Authority and the Durst Organization to negotiate a lease that will result in the best value for taxpayers, the federal government and the City of New York.”
As per the agreement, GSA will occupy floors 50 through 55 of the building for an initial term of 20 years starting in 2015.
The Port Authority is owner and developer of One World Trade Center, soon to be the tallest building in the western hemisphere. The Durst Organization is an equity partner in the property and bears primary responsibility for leasing, operating and managing the building.