WPP's GroupM has signed a 20-year lease at 3 World Trade Center, the company has confirmed. The building is under construction and is scheduled to open in 2017. The firm will occupy approximately 516,000 square feet on nine floors at the base of the 80-story tower, currently under construction in Lower Manhattan.
GroupM, which becomes the first tenant to lease space in the building, will consolidate its 2,400 employees from several Midtown New York locations to the new World Trade Center site.
"GroupM is looking forward to becoming part of one of the most vibrant and important neighborhoods in New York City," said Kelly Clark, CEO of GroupM North America.
GroupM is one of several advertising and marketing companies that have so far committed to moving to the World Trade Center in the next few years. Others include Condé Nast, BMI, Omnicom Group, Fast Company and Inc., as well as Moody's the investment rating company, and law firm WilmerHale.
GroupM's deal was done with developer Silverstein Properties which said it would now move forward to complete the financing and construction of the tower.