By Silverstein Properties | Official Press Release
NEW YORK, August 1, 2016 – Silverstein Properties Chairman Larry Silverstein announced today that the company has signed a 16-year lease with Zurich American Insurance Company, the leading multi-line insurance provider, for 132,000 square feet of office space at 4 World Trade Center.
Zurich, which is currently located at One Liberty Plaza, will move its New York headquarters to the 52nd, 53rd and 54th floors of the Fumihiko Maki-designed building in summer 2017.
Zurich Insurance Group is a global leader in managing risk. Its global headquarters is based in Zurich, Switzerland. The insurer employs about 55,000 people worldwide serving customers in more than 170 countries and territories. Zurich has been helping American businesses understand and protect themselves from risk for more than 100 years. The company has helped shape the America known today by insuring iconic infrastructure projects such as the Hoover Dam and Madison Square Garden.
“New York City is a global insurance hub, and the entire metro area is a large and important market for Zurich,” said Ed Lopes, EVP, East Regional Executive for Zurich Insurance. “This new location ensures that we remain in close proximity to our customers and brokers and provides employees a more dynamic, collaborative and flexible work environment. We’re thrilled to stay downtown in one of the most exciting, vibrant and accessible neighborhoods in the world.”
Larry Silverstein said: “I am delighted to welcome Zurich to 4 World Trade Center. Leading companies continue to be attracted to the World Trade Center for its top quality office space, unequalled mass transit, and location at the center of the world’s most dynamic live-work community.”
Janno Lieber, President of World Trade Center Properties, an affiliate of Silverstein Properties said: “To date, the World Trade Center has leased over 6 million square feet of office space. Now, with Zurich’s decision, the World Trade Center has attracted yet another storied name in international business. With the ribbon-cutting on the WTC Transportation Hub in April and 300,000-plus square feet of retail set to open next month, momentum continues to grow.”
Jeremy Moss, Director of World Trade Center Leasing for Silverstein Properties, led the negotiations for the landlord, together with the CBRE agency team including Mary Ann Tighe, Steven Siegel, Ken Meyerson, Adam Foster, Steve Eynon, Evan Haskell, Robert Hill and David Caperna. Zurich was represented by Martin Horner and Robert Romano of JLL.
The first tower to be completed on the 16-acre site, 4 WTC was designed by Pritzker-prize winning architect Fumihiko Maki to meet a LEED Gold standard of sustainability. A model of transparency and efficiency, the 977 foot (298 meter) tower contains 2.3 million sf (213,680 sm) of light-filled, green and high-tech office space spread over 56 office floors.
Tenants in the building include MediaMath, SNY, Hudson River Trading, Silver Suites Offices, Morningstar, PadillaCRT, Syntactx, Dixon Hughes Goodman, Port Authority of New York & New Jersey, and City of New York.
4 WTC was designed to enliven and seamlessly integrate into Downtown’s streetscape, with a major concentration of retail – both at the street-level and in underground pedestrian concourses that lead directly to 11 subway lines and the PATH trains. 300,000 square feet (27,870 square meters) of destination retail will open at the World Trade Center on August 16. 4 WTC retailers include Eataly, Banana Republic and H&M.
For more information and regular updates on 4 World Trade Center, visit WTC.com<http://www.4wtc.com/> and follow the WTC on Facebook<https://www.facebook.com/wtc>, Twitter<https://twitter.com/4wtc>, Instagram<https://www.instagram.com/wtc/>, and Pinterest<http://www.pinterest.com/4wtc>.
About Silverstein Properties
Silverstein Properties, Inc. (SPI) is a privately held, full-service real estate development, investment and management firm based in New York. Founded in 1957 by Chairman Larry Silverstein, the company develops and acquires office, residential, hotel and retail properties. SPI has developed, owned and managed more than 40 million square feet (3.25 million square meters) of commercial, residential and retail space, including 7 World Trade Center, the first LEED-certified office tower in New York City, which opened in 2006 and 4 World Trade Center which opened in November 2013.
Currently, the firm has $10 billion of development underway including Four Seasons Downtown New York Hotel and Private Luxury Residences, One West End and 2 and 3 World Trade Center. In addition, SPI is focused on joint ventures for development and acquisitions in Europe, Asia and Israel. The company has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for the past eight years.
For further information on Silverstein Properties, visit www.silversteinproperties.com<http://www.silversteinproperties.com> or www.wtc.com<http://www.wtc.com>.
About Zurich
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com<http://www.zurich.com>.
In North America, Zurich is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors through the individual member companies of Zurich in North America, including Zurich American Insurance Company. Life insurance and disability coverage issued in the United States in all states except New York is issued by Zurich American Life Insurance Company, an Illinois domestic life insurance company. In New York, life insurance and disability coverage is issued by Zurich American Life Insurance Company of New York, a New York domestic life insurance company. For more information about the products and services it offers and people Zurich employs around the world go to www.zurichna.com<http://www.zurichna.com>. 2012 marked Zurich's 100-year anniversary of insuring America and the success of its customers, shareholders and employees.
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