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

December 28, 2009

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]

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Categories: Commercial Real Estate Investing | Notable Deals
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