First Lease Signed for One World Trade Center
Vantone Industrial Co. has signed a lease at One World Trade Center, also known as the Freedom Tower, which will create the China Center, a 190,800-square-foot business and cultural facility, according to a CoStar Group article. The Port Authority of New York and New Jersey and Vantone signed the 20 year and nine month lease, commencing when the building is completed in late 2013, to establish the China Center on portions of the 64th floor and the entire 65th through 69th floors. Immediately following the lease signing, China Center provided the Port Authority with a $10 million letter of credit.
Tianjin Teda Group Co., Ltd., is the biggest shareholder of Vantone Industrial Co., Ltd. China Center obtained vigorous support from TEDA Investment Holding Co., Ltd., as well as the Tianjing municipal government. Key components of the China Center will include an Executive Business Club, conference center, and first-class office space.
Port Authority Chairman Anthony R. Coscia said, "Signing up the China Center on competitive terms and in a struggling economy is a firm stamp of approval for the World Trade Center site as a world-class business destination. We look forward to building on today’s success and securing other quality tenants for One World Trade Center from around the globe."
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