WTC Records Folder 0124 Clippings label, Sept 2001

NYC-WTC 00 10 37115 A51 GIEr. BOND YIELDS 30-year Treasury 5.37% UP FROM 5.32% S&P 500 1,056.75 5.69 NASDAO 1,570.19 -35.76 DOW 10-DAY 8750- 9,052.44 DOW B350. -15.50 TREND BISO-UTTISTW Damaged Offices to Reopen Some will be available in two weeks By Alan J. Wax gineering reports done afler they were STAFF WRITER damaged by the terrorist attacks that The owner of four office towers close destroyed the Trade Center, Brook- to the destroyed World Trade Center field said. said vesterday that some tenants Three World ( Financial Center, Set to Reopen These four buildings owned by Brooklield Properties Inc.. all damaged in the World Trade Center attacks, are scheduled to reopen within the next few weeks as repairs are completed. Barclay St. :Vesey St could move back in within two weeks. owned by Lehman Brothers Holdings Spruce sooner than previously anticipated, Inc. and American Express Co., suf- However. some tenants said they fered more serious damage than the Fulton St. von't be rushing to return. other buildings in the complex and no Toronto-based Brookfield Properties timetable for n return has been an- Corp. said 1 Liberty Plaza will reopen nounced. Both companies have ac- odeas Oct. 22 and 1 World Financial Center quired other permanent sites since the will open Nov. 19. Sept. 11 disaster. Two other buildings, 2 and 4 World Some tenants at the Brookfield Financial Center. which are net leased buildings said that while they expect to Merrill Lynch & Co. are expected to to return soon, they want to assure be re-occupied about the same time. themselves first that the buildings are Brookfield said. functional, clean and accessible. Under a net lease, Merrill is respon- "We can't move in Nov, 19 unless sible for the cleanup and repairs to its there's phone service and a complete buildings. Merrill spokeswoman Jessi- infrastructure in place for our people. D CLberty Sit. Albany St. Cedar Way = American StockF: Exchange Recior St. Post N.Ý." Office Stock Cunard Exchange Bidg 9 Pine st: Wall St. ca Oppenheim said the firm antici- Right now, none of that exists." said W est SI pates returning to the properties dur- Steven Goldstein, a spokesman for ing the same time frame. Dow Jones & Co.. noting that yester- Si. Brookfield said all water, electrici- day. he was at 1 World Financial Cen- ty and other service either had been ter, two blocks south of the tradé cen- restored or were expected to be re- ter. "We hope to return to the World Fi- U.SF Cürstom open dy plaza set to 1 World Financial Center set to open Nov. 19 12 Worid Financial Center set to open in mid lo fale November )4 World Financial Center set to open in mid to late November slored shortly. The company also said nancial Center." he said. most damaged windows had been ro- Eric Morse, a spokesman for CIBC placed and all floors have been World Markets. said, "Probably, like cleared with fine cleaning of tenant every other tenant, we've got to get in BMT. Line spaces continuing. there and assess what. has happened 18T Lexingtön Ave. Line The buildings have been declared structurally sound by independent en- See TOWERS on A5a MILE Nesrodny Office Vacancy Falls Since WTC Attacks By Alan J. Wax STAFF WRITER Office racancies in Manhattan shriv- eled after the World Trade Center's de- struction. commercial property bro- kers Cushman & Wakefield Inc. report- vesterday. Nevertheless, the firm said vacaner figures for the third quar- ter remained well above levels seen one year ago when the Manhattan real estate market was more robust. Leases for about 6.5 million square feet were finalized since the attacks, Cushman said. The overall office vacancy rate for Manhattan was 5.9 percent after ad- justments for leases signed or put out for signature since the Sept. 1l col- lapse of the World Trade Center. With- out the recent spate of leasing. the va- cancy rate would have been 7.6 per- cent, Cushman said. The latest figures are an aberration of the trend that had been in place since earlier this year with the oflice market cooling and flooded with space available for sublet. said Paula Forys. Cushman's assistant director of research. The Manhattan vacancy rate for the third quarter of 2000 was 3.5 percent. Forys said figures for the fourth quarter also are likely to be imparted by leasing of new space by companies displaced from the World Trade Cen- ter and surrounding buildings. The encire 13.4-million-square-foot World Trade Center complex was de- stroyed in the attack. The complex ac- counted for about 5 percent of all Man- hattan's office space inventory. Anoth- er 12 mitlion to 15 million square feet nearby were damaged. Some of the among them 1. 2, and 4 World Finan- cial Center. are expected to be reoccu- pied next month. and 1 Libertv Plaza is on schedule to reopen Oct. 22. Halloween Sales Take Cushman's adjustéd racancy figures show sharp drops in each of the bor- ouglis major oflice markets from be- fore Sept. Il. but rnat-to.sane comnari Business