NEW YORK CITY — American Express (NYSE: AXP) has unveiled plans to build a new global headquarters at 2 World Trade Center in Lower Manhattan. The credit card giant will be the sole owner and occupant of the new building, which is slated for completion in 2031.
Spanning nearly 2 million square feet across 55 floors, the tower will have capacity to host up to 10,000 colleagues across flexible and modern workspaces. The project will feature more than an acre of outdoor space with several greenery-filled terraces and gardens that will offer views of the Manhattan skyline.
“This is an investment in our company’s future, our colleagues and the Lower Manhattan community, reaffirming our deep commitment to the neighborhood we’ve called home for nearly two centuries,” says Stephen Squeri, chairman and CEO of American Express.
Silverstein Properties is the developer, and Foster + Partners is the design architect. Fried Frank advised American Express on the development agreement. The project team is pursuing LEED certification and integrating smart-building technology and fully electric, energy-efficient mechanical systems.
Located at 200 Greenwich St., the building will be developed on land owned by The Port Authority of New York and New Jersey (PANYNJ) under a long-term ground lease. The project is expected to create more than 3,200 direct and indirect construction-related jobs, with an estimated contribution of approximately $5.9 billion to the city’s economy and $6.3 billion to the New York State economy. JLL and Savills teams, led by Drew Isaacson and David Heller, respectively, acted as advisors to the Port Authority on the ground lease.
“Moving forward with the final commercial office building at the World Trade Center marks an important milestone for this campus and for the region,” says Kevin O’Toole, chairman of the PANYNJ.
The project is part of the World Trade Center, a collection of buildings replacing the original properties on the same site that were destroyed during the September 11 terrorist attacks in 2001.
American Express moved to its current headquarters at 200 Vesey St. in 1986 and has made significant investments over the decades to support its employees and the local community.
Construction at 2 World Trade Center is expected to begin this spring. The company will retain its current headquarters until the completion of the project.
Global payments company American Express was founded in 1850. The company’s stock price opened at $323.02 per share Wednesday, Feb. 25, up from $293.34 per share one year ago, a more than 10 percent increase.
— Kristin Harlow