Toronto-based Brookfield Properties Corp. has completed two lease agreements totaling more than 250,000 sq. ft. in One Liberty Plaza in Lower Manhattan.

Zurich North America renewed its lease of 207,776 sq. ft. for 10 years, and Arch Insurance Co. signed a new 10-year lease for 45,123 sq. ft.

"These transactions demonstrate the significance of Lower Manhattan’s economic advantage as businesses capitalize on the substantial discount in downtown’s rents," said Ric Clark, Brookfield president and CEO, in a statement.

One Liberty Plaza is a 54-story, 2.2 million sq. ft. office tower located in the financial district at Liberty Street and Broadway. It was the first building on the perimeter of the former site of the World Trade Center to reopen, just five weeks following the attacks.

Other tenants of One Liberty Plaza include the law firm of Cleary Gottlieb Steen and Hamilton, the National Association of Securities Dealers, Goldman Sachs and Royal Bank of Canada.