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WTC negotiating with Limited.

World Trade Center manager, George T. Rossi confirmed the Port Authority has signed a letter of intent with The Limited and is negotiating with several other retailers for the former Alexander's space.

Rossi said The Limited would be housed in the mall portion consisting of approximately 30,000 square feet. The price of the lease is still under discussion but sources believe it could be in the $75 per square foot range.

Other real estate insiders said two of the retailers bidding for the remaining space are Filenes and TJ Maxx. "We haven't made up our minds at this point," said Rossi, who indicated there were other names on his list.

"It's a very exciting development for Downtown and will add some vitality to the retail market," said one broker who asked not to be quoted by name.

Alexander's had entered into an agreement to sell its lease to Daffy's, a discounted designer-label store for $5.5 million. Prior to the bankruptcy hearing to confirm the deal, the Port Authority outbid Daffy's and paid Alexander's $6.725 million less rent due. The lease was to expire in the mid-2000s with a renewal option of 20-years.
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Title Annotation:World Trade Center to lease commercial space formerly occupied by Alexander's Department Stores to The Limited
Publication:Real Estate Weekly
Date:Jun 2, 1993
Words:195
Previous Article:Ciba complex for sale.
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