January 3, 2023 9:00 AM
Newmark announces that it has secured a 17,238-square-foot sublease at the iconic One World Trade Center for CLO Virtual Fashion (CLO). CLO is the world’s leading provider of digital garment solutions and will partially occupy the 58th floor of the Class A office tower. Newmark’s Director Mitch Heifetz and Associate Director Brett Stein represented CLO.
“CLO Virtual Fashion, alongside many other tech-centric companies, recognize the importance of creating a cohesive, collaborative work environment for their growing workforce. Their choice to join a tech-focused property like One World Trade further emphasizes their forward-thinking vision,” said Heifetz.
Evolved from the word “clothing,” CLO’s mission is to empower everything related to garments - from design to styling. With more than 20 years of research and development in accurate garment simulation, CLO is leading the digital fashion industry with its 3D fashion design software, digital CMS/virtual collaboration workspace, and open community platform & marketplace.
The digitally native fashion company formerly had its New York office at the WeWork on 16 East 34th Street. Due to the rapid growth in its business and workforce, CLO secured a long-term lease at what has become the tech hub of downtown, One World Trade, to accommodate its global expansion.
According to Newmark’s 3Q22 Manhattan Downtown Office Market Report, Downtown leasing velocity increased exponentially with 1,405,993 square feet at the quarter’s close–marking an 86.9% increase quarter-over-quarter and the second-highest leasing velocity in the market since the start of the pandemic. On top of being primely situated amongst the bustling office and retail landscape downtown, One World Trade Center is steps away from some of New York City’s most prominent attractions, such as The Oculus and Brookfield Place, as well as one of the top five public transportation hubs at Fulton Street Center.
Michael Berman and Eliza Gordon of JLL represented the sublandlord TZero on the transaction.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.2 billion for the twelve months ending June 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 6,500 professionals worldwide. To learn more, visit nmrk.com or follow @newmark.
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