UBS AG, the international financial services giant, has signed a 10-year lease with RexCorp Realty L.L.C. for 29,028 square feet of office space at 709 Westchester Ave. in the company”™s Platinum Mile office park, RexCorp officials said last week.
Headquartered in Switzerland, UBS is a leading global wealth manager, a top-tier investment banking and securities firm and one of the largest global asset managers. With offices in 50 countries, UBS”™s financial businesses employ more than 80,000 people worldwide.
UBS spokesman Kris Kagel said the White Plains location will be a branch office of the company”™s wealth management Americas division. Occupancy is expected at the end of 2008, he said.
Kagel said the Westchester operation will have “no impact at all” on UBS”™s presence in Connecticut, where it has its U.S. investment banking headquarters in Stamford.
RexCorp officials said a $20 million repositioning program for the 14-building, 1.6-million-square-foot Platinum Mile class-A office portfolio is nearing the final stages. The improvements project, scheduled for completion in 2008, is considered one of the largest in the history of Westchester”™s office market.
“As this unparalleled repositioning of Platinum Mile unfolds, our efforts continue to be validated by tenants of prominence, like UBS, who select this preeminent luxury office park as the location for their operations in Westchester,” said Joseph Caruso, RexCorp senior vice president of leasing.
UBS joins a tenant roster of financial services firms on the Platinum Mile that includes JP Morgan Chase, Fidelity Investments, Alpine Woods Capital Investors, Wells Fargo Bank, Bank of New York, Bankers Conseco Life Insurance and Wachovia.
UBS was represented by Steve Baker of Cushman & Wakefield of Connecticut Inc.
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