Displaced Union Bank of California signs lease for new Manhattan space

NEW YORK — Because of the Sept. 11 terrorist attacks, Downtown Manhattan has had its share of tenants who have relocated to other areas of the city in the tri-state area. Even so, some displaced firms have decided to remain in lower Manhattan.

Union Bank of California is one such tenant. The company, which is the third largest commercial bank in the state, has leased 23,458 sq. ft. at 40 Wall St. for its New York offices. Previously, 106 Union Bank of California employees occupied the 14th floor of 2 World Trade Center.

According to John Moxley, a director for Cushman & Wakefield, which represented the bank in the transaction, Union Bank did not want to leave the financial district. "They wanted to be close to Wall Street, close to the New York Stock Exchange and clients," he said.

New York is home to Union Bank of California’s International Banking Group, which provides correspondent banking and trade finance products worldwide. While searching for office space, New York-based employees of Union Bank of California were temporarily housed in The Bank of Tokyo-Mitsubishi Inc.’s operations center in New Jersey.

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