New York, NY – May 26, 2011 – CB Richard Ellis (CBRE) announced today that it represented Condé Nast Publications in its historic 1,046,262-square-foot, 25-year lease at One World Trade Center. As the anchor tenant in the World Trade Center redevelopment that will provide a major boost to Downtown Manhattan, the famed publisher will for the second time in a generation change the face of an iconic New York City business district.
“It has been an honor to represent Condé Nast in their relocation to One World Trade Center,” said Mary Ann Tighe, CEO, New York Tri-State Region, CBRE, who along with Gregory Tosko, vice chairman, and Ramneek K. Rikhy, senior associate, represented the tenant. “In the late 1990s, Condé Nast blazed a trail to Times Square, creating a new corporate headquarters district in Manhattan. Now, they are again trailblazing to lead the renaissance of Downtown, expanding it beyond its historical roots as New York City’s financial services central business district. This is far more than a ‘game-changer.’ This is a historic relocation that could be a New York City changer in the most visionary and positive sense.”
Mr. Tosko added: “It takes confidence and vision to create significant change. Fortunately, in Condé Nast we have both, plus an abundance of style.”
Brett White, chief executive officer, CBRE, noted the significance of Condé Nast’s move, saying: “I am proud that CB Richard Ellis has once again guided and executed a corporate relocation that will transform the New York skyline and the Downtown business district. Congratulations to Mary Ann, Greg and Ramneek, who along with their colleagues, make us all proud to be a part of CBRE every day.”
Condé Nast publishes 18 magazine titles, including The New Yorker, Vanity Fair, Vogue, Bon Appétit and Architectural Digest. Condé Nast will move thousands of employees from 4 Times Square to floors 20-through-41at 1 World Trade Center, the 1,776-foot-tower owned by The Port Authority of New York and New Jersey and The Durst Organization. Ownership was represented in the transaction by Tara Stacom and Alan Stein, of Cushman & Wakefield.
You can find this and other CBRE New York Tri-State Region Communications and Research information at www.cbre.com/nytristatemediamagnet.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.