It’s a trend! Pfizer wants to sublease 750,000 square feet of office space, according to a report today in Crain’s New York Business, joining a growing set of firms seeking to shed excess space in the slumping economy:
"The Royal Bank of Scotland is marketing about 140,000 square feet at 7 World Trade Center that it inherited when it bought ABN Amro. J.P. Morgan Chase & Co.’s purchase of Bear Stearns Cos. is also expected to put hundreds of thousands of square feet on the market. In addition, sources say Lehman Brothers is also trying to unload 400,000 square feet of space.
"Meanwhile, Goldman Sachs is preparing to sublease about 500,000 square feet at 77 Water St. that it won’t need when it moves into its new world headquarters next year. Bank of America is expected to shed a significant portion of the roughly 500,000 square feet it has at 114 W. 47th St. once its new tower opens."