Plummeting lease rates lure UBS to New York office market

12/29/2009 | Bloomberg

Switzerland's biggest bank, UBS, is taking a close look at potential office space in the New York area. People familiar with the bank's plans said it might take as much as 800,000 square feet of space, and it is considering Manhattan as well as other areas nearby. "We have a number of leases that come up in 2013, so we have started to look at various options, including new buildings, existing building, etc.," said Kris Kagel, a bank spokesman in New York. "A decision probably won't be reached for several months."

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