The developer leasing office space at One World Trade Center—a.k.a. the "Freedom Tower"—is having trouble filling the building, cutting rental prices even as the structure is set to open by the end of the year, the Wall Street Journal reports.
No private office tenant has signed a lease at One World Trade Center in nearly three years. The 3.1-million-square-foot skyscraper, formerly named the Freedom Tower, is 55% leased.
The owner—a venture of developer Douglas Durst and the Port Authority of New York and New Jersey—is cutting asking rents nearly 10%...
Among the reasons suggested for the difficulty of selling space in what would seem to be a prestigious address: the economy is not great, the building is really expensive, and potential tentants are worried about being the target of futher terrorist attacks.
While mostly reserved for commercial use, the building will include a 100th-story observation deck open to the public.