June 3, 2008
Chinese Firm to Lease Space at Freedom Tower...Maybe
The Port Authority says that a Beijing-based real estate developer will lease around 200,000 square feet at Freedom Tower (building on the far left). The news is notable because the only two other tenants are government agencies - the U.S. General Services Administration and the state office of General Services.
Vantone Real Estate Company is planning on taking the 64th to 69th floors to build the China Center, described as a $90 million "combination chamber of commerce and cultural center," for Chinese business hoping to branch out in the U.S. and for American companies with interest in business in China.
The Port Authority signaled its interest in landing more foreign tenants (read: the dollar is cheap!), as its chairman Anthony Coscia said, "Serious interest from the China Center is a major milestone in our efforts to secure Freedom Tower tenants from around the world."
Vantone signed a letter of intent for a 22-year-lease which starts out at $80/square foot (the Port Authority needs to approve the deal). However some wonder if the company can commit, as Vantone has walked away from deals before. (Heck, Vantone even flirted with renting at 7 World Trade Center.)
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That should make other companies scramble to fill the remaining x billion square feet that still remain in the complex.
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80 bucks a square foot doesn't seem unreasonable depending on what build out costs they have for it.
Still, isn't there like 19.8 million square feet left to rent?
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Well, at least Freedom Tower will be safe. Cuz nobody messes with the Chinaman--not the terrorists, not the evil axis. Only the stupid Tibetans they have to worry about.
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Does anyone else find it ironic that "Freedom Tower" would be host to one of the least freedom-loving countries in the world?
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NO! It's called get it while you can. Chinks Jews Japs Euro's Sand Niggers, it doesn't matter anymore.
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At least the chinese aren't scared of heights.