Kroll, a well-known financial advisory firm, has decided to sublease a portion of its headquarters at 1 World Trade Center from Condé Nast. The agreement involves Kroll leasing 48,026 square feet on the 31st floor of the 104-story tower for a period of 10 years. The rent for this space was set at $59 per square foot.
The deal was facilitated by Avison Young and JLL. Kroll, founded by Jules Kroll in 1972, is known for its corporate investigations and global operations. The firm is relocating its headquarters from Midtown to 1 World Trade Center as part of a strategic decision for their business.
As of now, there are still several floors of Condé Nast’s offices available for sublease. However, it is unclear how much space the company plans to retain in the tower. Both Durst and Condé Nast have not provided any comments on this recent development.
The move between Kroll and Condé Nast comes amidst a challenging relationship between Condé Nast and its landlords, the Port Authority of New York and New Jersey and the Durst Organization. Previously, Condé Nast had subleased a significant portion of its space in the tower to various tenants.
