The international trade organisation World Trade Centers Association (WTCA) has decided to re-establish its headquarters on the World Trade Center campus. After a 25-year absence, the WTCA signed a lease for 2,556 square feet (approx. 237 m²) of office space on the 46th floor of One World Trade Center, a building owned by the Durst Organization and the Port Authority of New York and New Jersey (PANYNJ). The WTCA acquired the naming rights to the World Trade Center back in the 1980s.
The exact term of the lease and the brokers involved were not publicly disclosed. In July, the asking rent for the tower was reported to be in the high $80s to $90s per square foot, as Commercial Observer reported at the time. This move marks a significant step for the organisation, which aims to strengthen its global presence.
Significance of the return
John Drew, Chairman of the WTCA Board of Directors, commented on the return in a statement: The return of our global headquarters to One World Trade Center is both a meaningful homecoming and a significant milestone for the WTCA and its continued growth as a global organisation. He added that the new office space provides a dynamic and fitting global location to bring together members and partners from around the world, as the organisation continues to build connections for trade, investment, and economic growth.
The WTCA had acquired the licence to use the World Trade Center name from PANYNJ for just $10 and has since licensed this name back to PANYNJ and other organisations. In 2013, there were reports that the WTCA was trying to reach an agreement with private and public partnerships to allow them free use of the name in exchange for office space worth $500,000 per year. Whether elements of this proposal were incorporated into the current lease agreement has not been confirmed by WTCA, Durst, and PANYNJ.
Statement from the Port Authority
Jolene Yeats, WTC Director at PANYNJ, commented on the developments: For more than two decades, the Port Authority has invested in rebuilding the World Trade Center as a place that drives economic growth and connects commerce, culture, and community in the heart of Lower Manhattan. She highlighted that the return of the World Trade Centers Association to the site of its original headquarters is another exciting step towards fulfilling this vision, and there is no more fitting place for its mission to build new bridges and create new connections.
- —Organisation: World Trade Centers Association (WTCA)
- —Location: One World Trade Center, 46th floor
- —Area: 2,556 square feet
- —Owners: Durst Organization & Port Authority of New York and New Jersey (PANYNJ)
