ING's orange lion atop State House Square in downtown Hartford will be replaced by UBS' trio of keys.
UBS Realty Investors, LLC has signed a long-term lease for about 50,000 square feet at 10 State House Square, taking the majority of the space vacated by ING Group this summer. ING consolidated its employees in Greater Hartford at its Windsor campus, although its trademark lion remains on the building.
UBS will move into the space in March from its current quarters a block away at 242 Trumbull St., according to Shawn McMahon, a broker at Jones Lang LaSalle in Hartford who was involved in the deal. The UBS logo will then be raised to the top of building.
McMahon said he could not comment on the terms of the lease. Typically, however, long-term leases run ten years or more.
UBS occupies a similar amount of space in its current location, which is also known as the Standard Building.
With the lease, the State House Square complex, which encompasses 844,000 square feet, will be more than 90-percent occupied, a bright spot in a downtown that has struggled with office vacancies above 30 percent.
UBS Realty Investors, which couldn't be reached for comment late Friday, is a subsidiary of UBS Global Asset Management. The parent company, UBS, based in Switzerland, has about 3,500 employees in Connecticut, mostly in Stamford, and recently reached an agreement with Gov. Dannel P. Malloy to keep at least 2,000 in the state.
Reprinted with permission of the Hartford Courant.
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