NY’s World Trade Center acquires major new tenant

Updated at: 07/09/2013 4:35 PM
By VERENA DOBNIK

(AP) NEW YORK - The World Trade Center is taking another big step in recovering from the 2001 terror attack with a major new tenant in a rising skyscraper.

A person familiar with the negotiations told The Associated Press on Tuesday advertising company GroupM has reached agreement with developer Larry Silverstein for space in 3 World Trade Center. The person spoke on condition of anonymity because talks are still underway.

The person says GroupM is moving into nine lower floors of the 80-story, $2 billion tower slated to be finished by 2016. The final contract has yet to be signed.

The Manhattan site now has three commercial towers under construction that real estate analyst Dan Fasulo calls the core of the new trade center.

GroupM is part of the marketing company WPP Group PLC.

(Copyright 2013 by The Associated Press. All Rights Reserved.)