Kroll Signs 10-Year Sublease with Condé Nast at 1 World Trade Center

In recent news, publishing giant Condé Nast has signed another deal at its 1.2 million-square-foot 1 World Trade Center headquarters. This time, the company has subleased space to financial advisory firm Kroll, which is relocating its headquarters from Midtown to 1 WTC.

Kroll, founded in 1972 by Jules Kroll and now a global operation, provides clients with a range of services including the recovery of stolen wealth. The company has signed a 10-year sublease for 48,026 square feet on the entire 31st floor of the tower, with an asking rent of $59 per square foot.

The deal was arranged by Avison Young and JLL represented Condé Nast. The publishing giant has had a tumultuous relationship with its landlords, the Port Authority of New York and New Jersey and the Durst Organization since moving there in 2014. In fact, tensions rose in 2021 when Condé Nast withheld rent in an effort to renegotiate its lease terms but eventually paid up. Since then, the company has subleased space to several tenants while keeping some office floors available online. It remains unclear how much space Condé Nast plans to retain in the tower going forward.

Representatives for Durst and Condé Nast were not immediately available for comment on this latest sublease with Kroll.