Uber is headed for an XL space at Silverstein Properties’ 3 World Trade Center.
The ride-sharing service is poised to expand by 86,000 square feet at the Financial District tower via sublease, the Commercial Observer reported. The expansion was disclosed in a monthly office report from CBRE, which noted the deal has yet to be finalized.
Should it cross the finish line, however, Uber’s footprint at the building will expand to 438,000 square feet, nearly a fifth of the property’s 2.5 million square feet of rentable space.
It was only a year ago when Uber took an additional 44,000 square feet at the Silverstein building; the rideshare company already occupied 300,000 square feet, which it started to utilize in 2019.
During the height of the pandemic, the company reversed course and reportedly offered about 80,000 square feet for sublease.
The average asking rent for office space in Lower Manhattan last month was $59.26 per square foot, according to CBRE. Details of Uber’s expansion, including the sublandlord, the length of the deal and the asking rent, were not disclosed.
Representatives for Silverstein and Uber did not immediately respond to requests for comment from the Observer.
The 80-story property is the second-tallest building in the World Trade Center campus. The tower’s bottom five levels are retail, with StubHub, Asana and McKinsey & Company among the other office tenants in the building.
The Manhattan office market slowed down last month. Deals dropped 39.5 percent from January and nearly 30 percent year-over-year to 2.2 million square feet, according to Colliers.
Despite the dip in leasing, average rents climbed for the ninth straight month, reaching $77.22 per square foot.
The availability rate, meanwhile, rose slightly to 13.6 percent and sublet space increased by 510,000 square feet, though overall supply has shrunk dramatically since February 2024.
— Holden Walter-Warner
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