The owners of the World Trade Centre's signature skyscraper are slashing office rents nearly 10 per cent because they can't find enough tenants.
The Wall Street Journal reports that 1 World Trade Centre is 55 per cent leased. It says no private office tenant has signed a lease in almost three years.
The owners are cutting asking rents to USD 69 a square foot for larger tenants on the building's middle floors.
Developer Douglas Durst tells the newspaper that's down from USD 75 a square foot.
Durst bought a stake in the 541-metre tower from the Port Authority of New York and New Jersey in 2011.
Major tenants in the building include magazine publisher Conde Nast and the government's General Services Administration.
The skyscraper, the nation's tallest building, is scheduled to open later this year.
