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By Kathleen Lynn, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Feb. 23--The World Trade Center, a lower Manhattan icon for almost three decades, will be taken over by Vornado Realty Trust, a fast-growing Paramus real estate company, which will pay $3.25 billion for a 99-year lease.
The deal was announced Thursday by the Port Authority of New York and New Jersey, which owns the World Trade Center. It covers the 110-story twin towers, two other office buildings, and the 90 stores at the center.
"They had the best price," said Port Authority Chairman Lewis Eisenberg. Vornado beat a bid by Silverstein Properties and a joint bid by…
Source: HighBeam Research, Vornado Realty Trust to Acquire New York's World Trade Center.