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.

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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.

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