GroupM to become World Trade Center tenant - Los Angeles News | FOX 11 LA KTTV

GroupM to become World Trade Center tenant

Posted: Updated:

By VERENA DOBNIK

NEW YORK (AP) - The World Trade Center is taking another big step in recovering from the 2001 terror attack - with a major new tenant in a rising skyscraper.

A person familiar with the negotiations told The Associated Press on Tuesday that GroupM, an advertising company, has reached agreement with developer Larry Silverstein for space in 3 World Trade Center. The person spoke on condition of anonymity because talks are still under way.

GroupM is moving into nine lower floors of the 80-story, $2 billion tower that is slated to be finished by 2016. The final contract has yet to be signed.

The site now has three commercial towers under construction that real estate analyst Dan Fasulo calls the core of the new trade center.

GroupM is part of the marketing company WPP Group PLC.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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