Giant On The Loose: UBS Seeking 800K SF in New York City

Bloomberg is reporting that UBS is out with a requirement for as much as 800,000 square feet in NYC. This would be a huge deal, though again is most likely not a deal which would be really accretive.

UBS AG , Switzerland’s biggest bank, is searching for as much as 800,000 square feet of New York-area office space, making it the biggest tenant shopping the market as rents fall, two people familiar with the plans said.

The bank has about 5 million square feet in New York City, suburban New Jersey and Connecticut and is considering offices either in Manhattan or outlying areas as its existing leases expire, New York-based spokesman Kris Kagel said in an e-mail response to questions.

[via Bloomberg]

Similar Posts:

• Q3 Manhattan Rents Drop 5%
• New Basis, New Rents
• JP Morgan Looking to Unload 7M SF of Office Properties
• Avaya Brings Online 140,000 Square Feet of R&D and Office Space For Sublease in Milpitas
• AIG, The Bailout, and Legacy Partners

Leave a comment