Credit Suisse to shop for 3M square feet of space

Credit Suisse has issued a request for proposals for nearly 3 million square feet of office space it intends to lease when its current space is up, in 2017, a source told the Wall Street Journal.

The Swiss financial services firm currently leases three spaces — all near Madison Square Park —  at 11 Madison Avenue, 1 Madison Avenue and 315 Park Avenue South, the Journal said. Although Credit Suisse has long been represented by CBRE, it is looking to undergo a complete review of its office spaces in New York City, and possibly consolidate them in one building, the Journal said.

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With the World Trade Center towers and Hudson Yards coming online, Credit Suisse will have its pick of new buildings clamoring for a tenant of their size. And the bank may prove to be a pioneer yet again, as it was when it inked the deals in the Madison Square Park area more than a decade ago. [WSJ] — Guelda Voien