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National Real Estate Investor and PRIMEDIA Business Magazines & Media would like to express our deepest sympathies to the families and friends of the victims of the September 11 attacks on our country. Our thoughts and prayers are with you.

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New locations of displaced WTC tenants

Building Status Update
12/17/01


World Trade Center tenant listing

World Trade Center retail tenant listing

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Matt Valley
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blank blank Do you have a comment, observation or question about how the attacks on New York City and Washington D.C. are affecting the commercial real estate industry? Send us an e-mail.

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Manhattan market loses major retail hub

 By Sheila Spires, Editorial Assistant

Online Exclusive, Sep 14 2001

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NEW YORK — The retail sector in lower Manhattan will soon feel the effects of Tuesday’s terrorist attack on the World Trade Center. The destruction of the gigantic complex included its retail component, the 427,000 sq. ft. Westfield Shoppingtown World Trade Center, which was located beneath the twin towers. The shopping center, comprised of 75 specialty stores, restaurants and service retailers, attracted approximately 150,000 visitors daily.

"It could be difficult for retailers to find other locations in Manhattan that would draw as much customer traffic as the once-bustling center," observed Amy Merrick and Teri Agins, staff reporters for The Wall Street Journal. The reporters spoke with Ann Binkley, a spokesperson for one of the mall’s major tenants, Borders, which operated a three-level, 40,000 sq. ft. bookstore — one of the center's larger locations — in the World Trade Center. "We aren’t even talking about what we’re going to do about that location," Binkley said.

Other retailers of Westfield Shoppingtown World Trade Center included Banana Republic, Bath & Body Works, The Children’s Place, Coach, Cole Haan, Crabtree & Evelyn, Duane Reade, Express, Gap, J. Crew, Lechter’s, Lynn’s Hallmark, RadioShack, Sam Goody, Sephora, Structure, Tourneau, Warner Bros. Studio Store and Verizon Wireless.

The mall had one of the highest producing sales volumes in America with totals in excess of $900 per sq. ft., according to Los Angeles-based Westfield America Inc., which along with New York-based Silverstein Properties Inc. completed a $3.2 billion deal for a 99-year lease of the complex in July.



© 2008, Primedia Business Magazines and Media, a PRIMEDIA company. All rights reserved. This article is protected by United States copyright and other intellectual property laws and may not be reproduced, rewritten, distributed, redisseminated, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without the prior written permission of PRIMEDIA Business Corp.

 
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  As a lender, if a prospective borrower were to inform you that a property he is refinancing, purchasing or developing does not carry terrorism insurance, would you:
  approve the loan anyway
  reject the loan
  make loan approval contingent on the applicant fulfilling certain requirements
  other
   
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Building Owners and Managers Association

International Council of Shopping Centers

Journal of Property Management

National Association of Industrial and Office Properties

National Multi Housing Council

Society of Industrial and Office REALTORS

Urban Land Institute

Wall Street Journal

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