7WTC Signs Major Tenant

A major tenant, Beijing Vantone Real Estate, has been signed on for at least 200,000 square feet of space on the top five floors of 7 World Trade Center, and a preliminary, nonbinding agreement has been signed on the deal, according to Silverstein Properties.Beijing Vantone, a Chinese real estate developer and the anchor tenant at the property, says it expects to use the space, floors 47 through 52, as a hub for Chinese companies locating offices in New York and for U.S. and other firms looking to invest in China. The development "represents a significant demonstration of confidence in downtown's rebuilding and again reinforces Lower Manhattan's position as the financial capital of the world," said New York Gov. George E. Pataki.