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Article: J.P. Morgan unit moves to Park as relocations rise. (Morgan Guaranty Trust Co. relocation)
- Article from:
- Crain's New York Business
- Article date:
- September 2, 1996
- Author:
CopyrightCOPYRIGHT 1996 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Takes area vacated by Bristol-Myers as big firms vie for desired space
After a lengthy search, the Morgan Guaranty Trust Co. unit of J.P. Morgan & Co. will be moving its roughly 300,000-square-foot operation into 345 Park Ave.
Neither the bank nor the landlords involved would comment, but real estate sources say Morgan plans to move into the space vacated by pharmaceutical giant Bristol-Myers Squibb Co., at a price estimated in the mid-$40s per square foot.
Morgan's decision to leave 9 W. 57th St. follows on the heels of several other major relocations by large companies over the past few months. It highlights a sudden realization overtaking many ...