News
UBS Continues To Shrink Footprint At 299 Park, But Renews 120k SF
Wikicommons
UBS is continuing to shrink its footprint at 299 Park Ave, signing a lease for 120k SF—a far cry from the 466k SF the bank occupied at the building back in 2000.
The new 13-year lease will begin when UBS’ current lease expires in 2018. UBS previously owned a 49% stake in the building, but sold it to the Rockpoint Group in 2010 for $180M.
UBS also leases 900k SF at 1285 Sixth Ave, which RXR Realty is under contract to purchase from AXA Financial and JP Morgan.
The bank also holds 120k SF at 787 Sixth Ave, which CalPERS recently bought from AXA for $1.9B, The Real Deal reports.
CBRE’s Robert Alexander and Patrick Murphy repped the tenant, while Fisher Brothers’ Marc Packman repped the landlord. [TRD]
