Mark Penn’s Stagwell Group has signed a 13-year lease for about 84,000 sq. ft. on the 62nd and 63rd floors of NYC’s One World Trade Center, the tallest building in the western hemisphere.
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Its holdings include SKDKnickerbocker (strategic communications), Harris Insights & Analytics (public opinion research), PMX Agency (marketing) and Code and Theory (digital).
Stagwell also has an investment stake in Finn Partners and their jointly owned shop Wye Communications.
“We are excited to be able to make an amazing new space for digital creatives and will be bringing together a great group of portfolio companies to foster synergies in a dynamic new workspace,” said Penn in a statement.
The former political consultant for Bill and Hillary Clinton and CEO of Burson-Marsteller is eager to expand Stagwell’s portfolio.
His operation has raised $250M in capital and says it may leverage that for a $750M acquisition spree.
The Durst Organization said OWTC has attracted 15 TAMI (technology, advertising, media, information tech) companies in its bid to position the 104-story skyscraper as the “epicenter of innovation and inspiration in Lower Manhattan.”
OWTC is 75 percent leased.
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Edelman is laying off 330 people (5.3 percent of its workforce) to cope with an anticipated eight percent shortfall in 2024 US revenues, and client demand for one-stop shopping for speciality services.
