In a major boost to Sixth Avenue’s Midtown corporate corridor, Mitsubishi-owned MUFG Union Bank, N.A., has signed one of the year’s largest new leases — 209,700 square feet on three lower floors at Rockefeller Group’s 1221 Sixth Ave., aka the McGraw-Hill Building.
My colleague Lois Weiss reported in July that MUFG’s parent, Bank of Tokyo/Mitsubishi, was negotiating for a somewhat larger block of space on vacant lower floors of 1221 Sixth.
Although MUFG has some offices at 1251 Sixth Ave. nearby, the move to 1221 Sixth Ave. is a consolidation that will draw employees from several Manhattan locations, including 1633 Broadway.
The deal was shrouded under a cloak of confidentiality, and not surprisingly, none of those said to be involved in the talks got back to us: Cushman & Wakefield’s Fred Smith and Omar Farooq for the tenant, and Cushman’s John Cefaly and Rockefeller’s Ed Guiltinan in-house for the landlord.
MUFG Union is a full-service bank with $108.8 billion in assets. It is a “proud member” of NYSE-traded Mitsubishi UFJ Financial Group.
Terms of the lease were not available. Asking rents are listed on lower floors for $78 per square foot by mrofficespace.com.