Silverstein Gets Another for 7 WTC

The NCR Corporation is leasing a floor at 7 World Trade Center, the first of Larry Silverstein’s buildings at Ground Zero, bringing the occupancy rate up to 74 percent. The rent is said to be somewhere around $70 a square foot annually—an aggressive rate even for a booming downtown.

Governor Spitzer announced the deal this morning. Press release below.

 

 

 

GOVERNOR SPITZER ANNOUNCES WORLD TRADE CENTER LEASE
Commitment by Fortune 400 Company Continues the Revitalization of Lower Manhattan

Governor Eliot Spitzer and Assembly Speaker Sheldon Silver today announced that NCR Corporation, a global technology solutions provider, will lease the 35th floor at 7 World Trade Center where it will locate executive offices, an executive briefing center and will serve as a base of operations for 200 employees.

NCR’s commitment follows JP Morgan Chase’s decision this past summer to build a new tower at Site 5 of the new World Trade Center complex, which will serve as a base of operations for 7,500 employees.

“NCR’s decision to move its executive offices to the World Trade Center site is further evidence of the continued revitalization of lower Manhattan,” said Governor Spitzer. “Together with JP Morgan Chase’s recent commitment to build and relocate its investment banking headquarters Downtown, we are seeing positive signals that Lower Manhattan remains a global center of commerce.”

New York State Assembly Speaker Sheldon Silver said: “I had the privilege of meeting Bill Nuti through a mutual friend about three years ago, and I took advantage of that opportunity to outline some of the reasons why he should consider moving NCR’s executive offices to Downtown Manhattan. The decision to move the executive offices of NCR to the Ground Zero area is a demonstration of American pride and an affirmation that Downtown Manhattan is the place where our nation’s top companies belong, and where they come to compete on a global level. I thank and applaud NCR for being a part of the rebirth of Lower Manhattan.”

Bill Nuti, NCR Chairman, CEO and President said: “NCR is very proud of our move into the World Trade Center complex for many reasons. For one, it will allow NCR to expand our presence in New York, where we conduct a great deal of business today and where we see a larger market opportunity as we expand our self-service technologies in our core retail and financial markets, as well as new markets, such as travel and hospitality, gaming and entertainment, healthcare and the public sector. The new offices will provide office space for management, operations and customer sales and support, as well as a new customer briefing center where we can showcase our solutions to prospective customers. It is also a strong statement of support for the downtown area of New York City, which is rebuilding itself after the tragedy of 9-11.”

New York City Deputy Mayor for Economic Development and Rebuilding Daniel L. Doctoroff said: “Lower Manhattan’s growth is marked not only by the increasing number of companies that want to locate their headquarters here, but also by the array of industries they represent, diversifying and strengthening the local economy. NCR’s move is the latest example of that, and the company’s presence will add to Lower Manhattan’s ongoing transformation into a thriving community that is attractive to businesses, residents and visitors alike.”

Mr. Larry Silverstein said: “I am delighted to welcome NCR to 7 World Trade Center. The addition of a Fortune 400 company to this building’s roster of tenants is another indication that Downtown is back as a world class business district. I especially want to thank Governor Spitzer and Speaker Silver who both helped encourage NCR to move to the World Trade Center.”

Avi Schick, Chairman of the Lower Manhattan Development Corporation, said: “Lower Manhattan continues to attract the corporations that are solidifying its place as global business center. But beyond the world-class office towers at the trade center, Lower Manhattan is fast becoming a premier community that has a rich and diverse housing stock, acres of open space, and premier cultural amenities.”

7 World Trade Center opened in May 2006 and contains 42 office floors above a ten-story base. It is New York City’s first “green” commercial office building, certified by the U.S. Green Building Council’s Leadership in Energy & Environmental Design (LEED) rating system on March 8, 2006. The building’s environmental design features include state-of-the-art ultra-clear exterior glass technology, high-efficiency air filtration, energy and water conservation technologies and 15,000 square feet of open park space to provide a pleasing urban environment for tenants, neighbors and building visitors.

NCR, headquartered in Dayton, Ohio, employs 2,000 people nationally and 29,650 worldwide and operates in over 100 countries. Founded in 1884, NCR made the first mechanical cash registers and now provides solutions that enable businesses to connect, interact and transact with their customers. NCR is a worldwide leader in ATMs, digital check processing, Point-of-Sale devices, retail self-checkout, and multi-function kiosks that enable a variety of high profile self-service applications such as automated bill payment, money order/transfer, ticketing, and airline, hotel and hospital self-check-in to name a few.

Today’s announcement represents another step forward in revitalizing Lower Manhattan. In May, the state announced the $2 billion settlement of all outstanding insurance claims arising from the destruction of the World Trade Center. The agreement, the largest in regulatory history, ended almost six years of legal battles between Silverstein Properties and seven insurance companies and removed the last major obstacle to funding development at Ground Zero. Earlier this year, Governor Spitzer announced that funding was secured for the construction of the Freedom Tower and that the Port Authority’s Board of Commissioners had approved nearly $1 billion in construction contracts.

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