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Market Analysis

Special Report: WTC Tenant Relocation Summary

Destroyed Buildings: Tenant Relocation Summary as of March 21, 2002

  Midtown New Jersey Elsewhere Downtown Undecided Total
Total Tenants 45 10 7 14 1 77

Damaged Buildings: Tenant Relocation Summary as of March 21, 2002

  Midtown New
Jersey
Elsewhere Downtown Downtown
Existing
Undecided Total
Total Tenants 18 2 3 5 77 4 109
(Note: Reflects tenants of 10,000 square feet or greater)
(Note: Companies with multiple locations are counted in primary destination locale.)

Tenant: Industry: 9/11 Address: 9/11 Sq. Ft.: Status Dest:
Abbeville Press Business Services 22 Cortlandt 17,145 2/02: Abbeville is temporarily operating from 116 West 23rd Street. Expects to return to 22 Cortlandt when repaired. Downtown Existing
ABN AMRO Financial Services 2 WFC 15,000 2/02: ABN AMRO is temporarily operating from existing offices at 1290 Avenue of the Americas. Expects to return to its 15,000sf office at 2 WFC mid-2002. Downtown Existing
Allianz Insurance 1 Liberty 10,000 2/02: Allianz expects to return to its space at One Liberty in the second quarter of 2002. Downtown Existing
American Capital Access Insurance 140 Broadway 23,000 2/02: ACA regained possession of its space at 140 Broadway in December. Downtown Existing
American Express Financial Services 100 Church, 140 Broadway, 3 WFC,
7 WTC
55,000, 23,000, 1,120,500, 106,117 2/02: American Express will return to 3 World Financial Center. Employees expect to return in phases beginning in April 2002. AMEX will leave its temporary spaces in Parsippany, Short Hills, Stamford and Weehawken. AMEX will continue to have a presence at 90 Hudson Street and at 40 Wall Street. Downtown Existing, Midtown Backfill
AON Corporation Insurance 2 WTC 219,133 2/02: AON leased 50,000sf of Winstar's space at 685 Third Avenue in October. AON is exploring options Downtown and also plans to keep the space it occupies at 685 Third Avenue. Midtown
Asahi Bank, Ltd. Financial 1 WTC 40,000 2/02: Asahi Bank is moving to 8,000sf on the 17th floor of 101 East 52nd Street. By September 2002, Asahi Bank, Ltd. will be a part of Daiwa Bank Group. Midtown
AT&T Corporation Communications 1 WTC 11,612 2/02: In October, AT&T relocated to existing offices, including headquarters at 32 Avenue of the Americas. AT&T does not need any additional space. Midtown Backfill
Atlantic Mutual Insurance 140 Broadway 23,000 2/02: Atlantic Mutual regained possession of its space at 140 Broadway in October. Downtown Existing
Bank of America Financial 1 WTC 132,586 2/02: BOA will relocate to 100 West 33rd Street. Occupancy is expected in summer 2002. Midtown
Bank of Indonesia Financial 1 Liberty 10,250 2/02: Bank of Indonesia regained possession of its office at One Liberty Plaza in December. Downtown Existing
Bank of New York Financial 100 Church, 101 Barclay, 75 Park Place 250,000, 1,226,000, 75,352 2/02: BONY leased 800,000sf in 17 locations in NYC on a temporary basis. Its stated intention is to return to 101 Barclay, 100 Church and 75 Park Place when repaired. Downtown Existing
Scotiabank Group Financial 1 Liberty 210,000 2/02: Scotiabank Group (Bank of Nova Scotia and Scotia Mocatta) expects to return to its space at One Liberty in the second quarter of 2002. Downtown Existing
Barclays Capital Financial 1 WTC 12,211 Barclays' offices were relocated from 1 WTC to 222 Broadway before the attack. Employees were displaced for a week; phones were not operational for a month. Has been fully operational at 222 since 10/15/01. Downtown
Baseline Financial Financial 2 WTC 42,750 2/02: Baseline signed a lease for 58,000sf of permanent office space at 395 Hudson Street, 6th floor, for approximately 200 employees in January. Downtown
Bishop, Rosen & Co. Financial 111 Broadway 10,779 2/02: Bishop, Rosen & Co. regained possession of its space at 111 Broadway in November. Downtown Existing
Bridge Information Systems Business Services 3 WFC 70,000 2/02: Some parts of Bridge Information Systems were absorbed into Reuters. Employees of Bridge were relocated to Reuter's building at 3 Times Square and in White Plains, NY. Bridge/Reuters plans to utilize the offices at 3 World Financial when repaired. Midtown Existing
Brown Brothers Harriman Financial 140 Broadway 430,000 2/02: BBH expects to occupy its new space at 140 Broadway in summer 2002. Downtown Existing
Buchanan Ingersoll Legal 140 Broadway 23,976 2/02: Buchanan Ingersoll regained possession of its space at 140 Broadway in December. Downtown Existing
Cantor Fitzgerald Securities Financial 1 WTC 245,000 2/02: CFS will decentralize its operations into three new locations: NY, VA and London. All site searches are in progress. Midtown, Elsewhere
Capital IQ Financial 22 Cortlandt 16,650 2/02: Capital IQ regained occupancy of its space at 22 Cortlandt in February. Downtown Existing
Chang Hwa Commercial Financial 1 WTC 12,182 2/02: Chang Hwa Commercial Bank signed a lease in December for 13,000sf at 685 Third Avenue for 15 years. Chang Hwa expects to occupy the space in spring 2002. Midtown
Chiao Tung Bank NY Agency Financial 1 WFC 10,000 2/02: Chiao Tung Bank NY regained possession of its space at 1 WFC in February. Downtown Existing
Interstate/ Chicago Insurance Company Insurance 1 Liberty Plaza 10,000 2/02: Interstate/Chicago Insurance Co., an Allianz Company, expects to return to its space at One Liberty Plaza in the second quarter of 2002. Downtown Existing
Chubb Institute Computer Services 22 Cortlandt 50,376 2/02: Chubb has moved to temporary space at 498 Seventh Avenue and expects to reoccupy its 50,376sf space at 22 Cortlandt Street. Downtown Existing
CIBC World Markets Financial 1 WFC 500,000 2/02: CIBC leased 150,000 sf at 622 Third Avenue and 130,000sf at 417 5th Avenue. CIBC plans to occupy 300 Madison in 2004. Midtown
Citco Funds Financial 1 Liberty 34,000 2/02: Citco Funds is moving to Midtown, despite one year remaining on a sublease at One Liberty Plaza. Citco plans to terminate the sublease at One Liberty and signed a 10-year lease for 34,700sf for 70 employees at 350 Madison Avenue Midtown
Citigroup/ Salomon Smith  Barney Financial 7 WTC 1,202,900 2/02: C/SSB is backfilling existing space in Midtown; Rutherford, NJ; and Stamford, CT. C/SSB is subletting 330,000sf at 125 Broad Street. Midtown Backfill, NJ Backfill, Elsewhere
Cleary Gottlieb Steen & Hamilton Legal 1 Liberty 280,000 2/02: CGS&H regained possession of its space at One Liberty Plaza in December. Downtown Existing
Commerzbank Financial 2 WFC 160,000 2/02: Commerzbank plans to return to its 160,000sf office at 2 WFC. 400 employees expect to be back in their offices by second quarter 2002. Downtown Existing, Midtown Backfill
Commerzbank Capital Markets Financial 2 WTC 45,540 2/02: Commerzbank Capital Markets backfilled existing space at 1251 Avenue of the Americas. Midtown Backfill
Commodity Futures Trading Commission
 
Financial 1 WTC 35,000 2/02: Commodity Futures Trading Commission expects to move to permanent space at 140 Broadway in March or April. In December, CFTC signed a lease at 140 Broadway for 35,000sf for 10 years. Downtown
Compaq Computer Corporation Business Services 1 Liberty Plaza 31,500 2/02: In October, Compaq employees from One Liberty Plaza permanently relocated to existing offices at 2 Penn Plaza. Midtown Backfill
Computer Associates Business Services 140 Broadway 23,819 2/02: Computer Associates regained possession of its space at 140 Broadway in November. Downtown Existing
Continental Insurance Company Insurance 2 WTC 40,000 CIC is in a long term lease at 40 Wall Street. Offices moved prior to the attacks. Downtown Backfill
Corporation Service Company Business Services 2 WTC 22,916 2/02: Corporation Service Company leased 26,000sf of at 1177 Sixth Avenue. Midtown
Credit Suisse First Boston Financial 5 WTC 179,244 2/02: Credit Suisse First Boston now occupies 1 Madison Avenue and 11 Madison Avenue and backfilled approximately 700 employees from 5 WTC. CSFB has no new space requirements and will sublease its space at 277 Park Avenue. Midtown Backfill
Dain Rauscher RBC Financial 1 WFC 26,000 2/02: Dain Rauscher is temporarily operating from 3 Times Square and expects to return to One World Financial when repaired. Downtown Existing
Deloitte & Touche Financial 2 WFC,
1 WFC
500,000, 75,000 2/02: Deloitte & Touche temporarily moved employees from 1633 Broadway to Stamford, CT to make room for over 1,000 WFC employees to operate temporarily from 1633 Broadway. Other WFC employees operated from temporary space at the Marriott Marquis hotel (600 employees) and shared space at 11 Broadway (150 employees). D&T plans to return to 2 WFC when repaired, but may sublet 100,000sf of its 500,000sf space. Downtown Existing
Deutsche Bank Financial 130 Liberty,
4 WTC
1,415,000, 273,991 2/02: Employees from Downtown locations have been relocated to Deutsche Bank headquarters at 31 W. 52nd. St., as well as 280 Park Ave, 885 Third Ave, 1501 Broadway, 55 Broad, 14 Wall, 16 Wall, 126 East 56th, 1251 Avenue of the Americas, 1290 Avenue of the Americas, and 1301 Avenue of the Americas. Deutsche Bank completed the purchase of 60 Wall St., a 1.6 MM square feet building, from J.P. Morgan Chase. Downtown Backfill, Midtown Backfill
Dow Jones & Co. Business Services 1 WFC 300,000 2/02: DJ permanently moved 250 employees to NJ. 425 will move back to 1 WFC when repaired. The remainder are in other undisclosed Manhattan locations. DJ will sublet 150,000sf at 1 WFC, 1/2 its space there. New Jersey Backfill, Downtown Existing, Midtown Backfill
Drinker Biddle & Reath Legal 1 WTC 10,000 2/02: Drinker Biddle & Reath is relocating to existing offices in Florham Park, NJ, and signed a lease for new space in November for 5,000sf at 30 Broad Street. Midtown, New Jersey
Dun & Bradstreet Personal Services 1 WTC 22,750 2/02: Dun & Bradstreet leased space in November at 512 Seventh Avenue for 70 employees which fully accommodated its displaced employees. Midtown
Empire Health Choice Insurance 1 WTC 461,000 2/02: In October, Empire signed a lease for 105,429sf at 11 West 42nd Street. In November, Empire signed a lease for 322,000sf at MetroTech 9 South in Brooklyn for 1,300 employees. These commitments represent 100,000sf less than previously occupied which may reflect layoffs. Midtown, Brooklyn
Employers Re Insurance 140 Broadway 10,500 2/02: After 9/11, Employers Re, a GE Capital company, cut staff from 22 employees to 6 and consolidated into existing space at 1114 Avenue of the Americas. Employers Re plans to sublet its space at 140 Broadway. Midtown Backfill
Euro Brokers, Inc. (Maxcor) Financial 2 WTC 32,104 2/02: Euro Brokers is temporarily operating from One New York Plaza, 16th floor, in Wexford/Prudential space and is in the process of securing space Downtown. Downtown
FGIC Insurance 115 Broadway 126,000 2/02: In October, FGIC permanently relocated 140 employees from 115 Broadway offices to 125 Park Avenue. 364 employees moved to Connecticut. Midtown Backfill
Fidelity Investments NFS Corp. Financial 1 WFC 193,000 2/02: Fidelity is temporarily operating from existing offices in Carlstadt, NJ; Merrimack, NH and Boston, MA. In December, Fidelity announced that it will sublease 64,000sf (floors 25 and 26) and expects to reoccupy the remaining 144,000sf at 1 WFC. Fidelity signed a lease in December for 113,000sf at the new Harborside Financial Center, Jersey City, NJ and may occupy its space there by mid-2002, depending on construction and build out. Fidelity expects to occupy its space at 1 WFC in 2003. New Jersey, Downtown Existing
Fiduciary Trust Company Int. Financial 2 WTC 245,156 2/02: Fiduciary Trust signed a part direct/part sublease for 156,000sf at 600 Fifth Avenue and occupied the space in November. Midtown
Financial Technologies Int. Computer Services 22 Cortlandt 35,000 2/02: Financial Technologies expects to return to 22 Cortlandt with only 20 employees and will consider subletting half of the 35,000sf space that originally held 180 employees. Downtown Existing
Fireman's Fund Insurance 2 WTC 57,000 2/02: In December, Fireman's Fund closed a long-term lease for 36,000sf at 75 Wall St. An Allianz Company. Downtown
First Options of Chicago, Inc./ LIT Financial 111 Broadway 21,600 2/02: First Options of Chicago/LIT regained possession of its space at 111 Broadway in December. Downtown Existing
First Union Securities/ Wachovia Financial 1 WTC 13,000 2/02: First Union expects to occupy its 13,000sf long-term office space at 40 Broad Street at the end of April 2002. Downtown
Flemming Zulack & Williamson Legal 1 Liberty Plaza 36,779 2/02: FZ&W regained possession of its space at One Liberty Plaza in November 2001. Downtown Existing
Folks America Group Insurance 1 Liberty Plaza 42,000 2/02: Folks America regained possession of its space at One Liberty Plaza in January. Downtown Existing
Forsythe & Lincoln Computer Services 1 Liberty Plaza 40,000 2/02: Has not announced plans. N/A
Fred Alger Management Financial 1 WTC 36,078 2/02: Fred Alger Management, Inc. will move to 40,000sf of new space on the second and third floors at 111 Fifth Avenue by the second quarter of 2002. Support offices will continue to operate from Morristown, NJ. Midtown
French American Bank Financial 1 WFC 60,000 2/02: FAB merged with BNP Paribas and employees moved from One Liberty to 787 7th Avenue a month before the attack. A small number moved to 919 Third Avenue. Midtown
Frenkel & Company, Inc. Insurance 2 WTC 59,670 2/02: Frenkel & Co followed a trend of decentralizing operations and signed new leases in November for 35,000sf at 1740 Broadway for 125 employees and 15,000sf at 30 Montgomery Street in Jersey City for 50 employees. Midtown, New Jersey
Friends Ivory & Sime, Inc. Financial 1 WTC 13,262 After 9/11, FI&S closed the New York office and relocated to London. Relocate Elsewhere: Closed NYC Office - London
Fuchsberg & Fuchsberg Legal 100 Church 10,000 2/02: F&F regained possession of its space at 100 Church Street in January. Downtown Existing
Gabriele, Hueglin & Cashman (A Division of Tucker Anthony Inc.) Financial 1 WFC 30,000 2/02: GH employees are operating from the 666 Fifth Avenue office of Tucker Anthony and from the offices of Gibraltar Securities in Florham Park, NJ, another Tucker Anthony company. A few employees are working from Stamford, CT and South Hampton, NY. GH expects to return to One World Financial when repaired. Downtown Existing
Garban-Intercapital Financial 1 WTC 60,548 2/02: In December, Garban Intercapital leased 111,451sf at Harborside Financial Center Plaza 5 in Jersey City, NJ, for 15 years. Construction is due for completion in 2002 and Garban expects to take occupancy late summer 2002. New Jersey
GBI Capital/ Ladenburg Capital Management Financial 22 Cortlandt Street 21,970 2/02: GBI will not return to 22 Cortlandt St., but will continue to backfill space at two existing offices: 590 Madison Avenue and 1055 Stewart Avenue, Bethpage, NY. Midtown Backfill, Elsewhere
GE Capital Financial 140 Broadway 26,900 2/02: GE Capital relocated to existing offices at 125 Park Avenue. Midtown Backfill
Generali USA Insurance 1 Liberty Plaza 22,818 2/02: Generali USA regained possession of its 21,000sf office at One Liberty Plaza in January. Downtown Existing
Genuity Solutions Inc. Computer Services 1 Liberty Plaza 18,559 2/02: 30 employees temporarily relocated to 100 Wall and 11 employees relocated to vacant space in Glenrock, NJ. Genuity is committed to New York and expects to take possession of its space at One Liberty Plaza when repaired. Downtown Existing
Global Crossing Holdings Ltd. Computers/ Data Processing 1 WTC 20,750 2/02: Global Crossings will not be taking additional space. The space at 1 WTC was for storage purposes. Closed NYC Office
Global Knowledge Network, Inc. Business Services 1 Liberty Plaza 20,000 2/02: Global Knowledge will remain in its temporary space at 1155 Avenue of the Americas indefinitely as it evaluates demand for services Downtown. Midtown
Goldman Sachs & Co. Financial 1 Liberty Plaza 259,654 2/02: Goldman Sachs will occupy its existing space at One Liberty until its move to Jersey City, New Jersey in 2004. Downtown Existing
Gov PX, Inc. Financial 2 WFC 10,000 2/02: Gov PX regained possession of its space at 2 WFC. Downtown Existing
Gruntal & Co. Financial 1 Liberty Plaza 201,779 2/02: Gruntal is temporarily working from 2 Wall Street and 55 Broad Street. Expects to return to One Liberty Plaza when repaired, although the firm is considering subleasing as much as 180,000sf. Midtown Relocate
Gruzen Samton LLP Architecture 90 West St 31,130 2/02: Gruzen Samton LLP relocated to 320 West 13th Street. Downtown Existing
Guy Carpenter Insurance 2 WTC 320,000 2/02: Guy Carpenter is moving to 1166 Avenue of the Americas and will be consolidated into 135,000sf with Marsh. Guy Carpenter will also relocate to 45,000sf in Hoboken, NJ. Midtown
Han-Padron Associates LLP, Engineering 22 Cortlandt St 17,584 2/02: Han-Padron has regained possession of its space at 22 Cortlandt St. Downtown Existing
Harris Beach & Wilcox, LLP Legal 2 WTC 48,800 2/02: In October, Harris Beach signed a sublease for 20,000sf at 500 Fifth Avenue from client, Harris Interactive. HB also signed a lease for 84,864sf at 1740 Broadway. Midtown
HeadStrong Computer Services 1 Liberty Plaza 31,478 2/02: Headstrong regained possession of its space at One Liberty Plaza in January. Downtown Existing
Helen Keller Worldwide Social Services 90 West St 14,000 2/02: In January, Helen Keller Worldwide leased 12,000sf of permanent space at 325 Park Avenue South for its headquarters. In February, HKW began a staged move-in to 325 Park Avenue. Midtown
Hill Betts & Nash, LLP Legal 1 WTC 21,609 2/02: Hill Betts & Nash offices at 99 Park Ave will be temporary - for a year and a half. Midtown
HQ Global Business Services 140 Broadway 23,967 2/02: HQ Global has regained possession of its space at 140 Broadway. Downtown Existing
HQ Global Workplaces Business Services 1 Liberty Plaza 26,000 2/02: HQ Global employees have started to return to their 26,000sf space at One Liberty Plaza on the 23rd floor. HQ reported that cleaning and repair was significant for rugs and ceilings and that its return will be slow. Downtown Existing
Hua Nan Commercial Bank Ltd. Financial 2 WTC 12,500 2/02: Hua Nan will relocate to approximately 8,000sf at 300 Madison Avenue. Hua Nan lost much equipment at 2 WTC, so needs now are for less space. Midtown
Hyperion Capital Market Financial 1 Liberty Plaza 16,886 2/02: Hyperion regained possession of its 16,886sf space at One Liberty Plaza in November. Downtown Existing
Ikon Office Solution Business Services 90 West St 15,118 2/02: Ikon relocated to existing offices at 233 Spring Street in December and is in the process of building out additional space at this location. Downtown Backfill
Insignia ESG Real Estate Services 1 Liberty Plaza 10,000 2/02: Insignia/ESG regained possession of its 10,000sf office space at One Liberty Plaza in January. Downtown Existing
Instinet, Inc. Financial 1 WTC 65,844 2/02: After 9/11, Instinet operated from temporary space at 3 Times Square with its parent company, Reuter. As part of a plan to establish a site outside the city, Instinet sublet 150,000sf from Charles Schwab in Harborside, Jersey City. This location will be a disaster recovery site and backup trading facility, as well as a site for some administrative functions. Instinet will continue to occupy its space at Reuters Building, 3 Times Square. Instinet has also vacated 199 Water Street and is offering its space there for sublease. New Jersey
International Office Centers/ Regus Business Services 1 WTC 26,367 2/02: IOC/Regus is operating from an existing office at 245 Park Avenue. Has not announced plans to open another location. Midtown
Interoute Telecom, Inc. Communications 22 Cortlandt St 17,145 2/02: After 9/11, Interoute Telecom, Inc. closed its NYC office and relocated to London. Relocate Elsewhere: Closed NYC Office
ITT Hartford Insurance Group Insurance 7 WTC 122,590 2/01: ITT relocated to a sublet of 150,000sf at 2 Park Avenue for 325 employees in October. Midtown
John J. McMullen Associates, Inc. Engineering 2 WTC 15,000 2/02: JJMA has temporarily relocated to 70 Wood Avenue South, Iselin, NJ and plans to stay for a year. JJMA has not announced plans for long term relocation. New Jersey
Keefe Bruyette & Woods Financial 2 WTC 97,600 2/02: Keefe Bruyette & Woods signed a lease for 55,000sf at 787 Seventh Avenue for 150 employees. KB&W also signed a lease for space at 2 Hudson Place in Hoboken, NJ for an asset management unit. Midtown, New Jersey
Kemper Insurance Companies Insurance 1 WTC 92,232 2/02: Kemper Securities signed a lease for space at 30 Rockefeller Center on 11th & 12th floors for 65,381sf in November. Midtown, New Jersey Backfill
Landmark Education Corporation Personal Services 1 WTC 44,407 2/02: Landmark Education is temporarily operating from 40 West 57th Street. Continuing to look for long-term space in Midtown. Midtown
Law Offices of Turner & Owen Legal 1 Liberty Plaza 10,000 2/02: Law Offices of Turner & Owen has regained possession of its space at One Liberty Plaza. Downtown Existing
Legal Aid Society Legal 90 Church 146,760 2/02: Legal Aid Society temporarily leased space at 48 Wall Street for 40 employees. Legal Aid Society expects to return to 90 Church St. Downtown Existing
Lehman Brothers Financial 3 WFC, 1 WTC 1,030,800; 45,100 2/02: Lehman leased 150,000sf at 70 Hudson in Jersey City; 450,000sf at 399 Park Ave; and purchased Morgan Stanley's interest at 745 Seventh Ave., a 1MM sq. ft. property. Lehman will sublet its space at One and Three World Financial Center. Lehman also signed a lease for 56,000 sf at 85 10th Avenue, between 15th and 16th Streets. Lehman will be building a data center at this space as part of its decentralized operations in Metro New York. Midtown, New Jersey
LIT Financial 111 Broadway 14,000 2/02: LIT has reoccupied its space at 111 Broadway. Downtown Existing
Long Term Credit Bank of Japan Ltd. Financial 1 Liberty Plaza 148,000 1/02: LTCB (Shinsei) Bank moved to 399 Park Avenue in March 2000. Midtown
Man Financial Financial 2 WFC 40,000 1/02: Man Financial will relocate to a 25,000sf space in Midtown. 2/02: Man Financial is still negotiating on a new space in Midtown. Midtown
Mancini Duffy Architects 2 WTC 28,091 2/02: Mancini Duffy occupied its new 25,000sf space at 39 West 13th Street in January. Midtown
Marsh USA Insurance 1 WTC 361,000 2/02: Marsh will relocate 240,000sf to Hoboken, NJ and 121,000sf to Midtown. New Jersey, Midtown
Martin Progressive LLC Computers/ Data Processing  1 WTC 13,789 2/02: Martin Progressive signed a lease for 13,000sf at 235 Park Avenue South. Midtown
May Davis Group Financial 1 WTC 12,824 2/02: May Davis is in the process of securing long term space Downtown. Downtown
Mercer Insurance 2 WTC 30,000 2/02: Mercer is relocating to 25,000sf to Midtown and 5,000sf to Hoboken. Midtown, New Jersey
Merrill Lynch & Co., Inc. Financial 4 WFC,
2 WFC
2,083,555, 420,000 2/02: Merrill reports that 6,000 employees have returned to 4 WFC and 2,000 employees have returned to 2 WFC. Merrill's broker is actively marketing 470,000sf at 2WFC which includes 2 base floors of 106,000sf each, and 5 floors of 52,000sf each. Downtown Existing, New Jersey Backfill
Mizuho/ Dai-Ichi Kangyo Bank, Limited Financial 1 WTC 100,000 2/02: Dai-Ichi Kangyo Bank is temporarily operating from two locations in New Jersey: 95 Christopher Columbus Drive and 1 Evertrust Plaza in Jersey City; and at 1633 Broadway, New York. Part of Mizuho Group. Dai-Ichi has not announced plans for permanent relocation. Midtown, New Jersey
Mizuho/ Fuji Bank Financial 2 WTC 182,956 2/02: Fuji Bank is temporarily operating from 95 Christopher Columbus Drive in Jersey City, 622 Third Avenue, 33rd Floor, at the offices of Heller Financial, a related company. Fuji signed a lease for 37,000sf, a portion of its overall requirement, at Waterfront Corporate Center, Hoboken, NJ. Midtown, New Jersey
Moody's Investor Services Publishing 99 Church 268,000 2/02: Moody's has regained possession of its space at 99 Church Street. Downtown Existing
Morgan Stanley Financial 2 WTC 840,000 2/02: Morgan Stanley leased 725,000sf at the former Texaco headquarters in Harrison, NY. Morgan also leased space for relocation at 1633 Broadway, 1221 Avenue of the Americas, 75 Varick Street and in Harborside, NJ. In an effort to decentralize, WTC employees will be dispersed among these several locations. Midtown, Downtown, Elsewhere, New Jersey
Multex.com Computer Services 75 Park Place 37,259 2/02: Multex has regained possession of its space at 75 Park Place. Downtown Existing
Municipal Credit Union Financial 22 Cortlandt St 102,870 10/15: Municipal Credit Union is temporarily operating from existing offices in Manhattan, Brooklyn and Queens. 10/18: Municipal Credit Union has temporarily backfilled 80 employees at 1 Battery Park Plaza and 100 employees in Brooklyn at 185 Montague Street. Expects to return to 22 Cortlandt when repaired. 1/02: Municipal Credit expects to return to 102,870sf at 22 Cortlandt St. in the second quarter of 2002. Downtown Existing
N.Y. Institute of Finance Business Services 2 WTC 24,539 2/02: NYIF is in the process of backfilling space from Pearson, Inc., parent company, at 1330 Avenue of the Americas. 1330 AoA will become permanent offices of NYIF: 20,000sf for 65 employees. Midtown Backfill
N.Y. Shipping Association Transportation 2 WTC 80,000 2/02: N.Y. Shipping is temporarily operating from New Jersey and will move to MetroPark, Jersey City. Occupancy at Metro Park is expected in second quarter 2002. New Jersey
NAC Reinsurance Insurance 140 Broadway 11,500 2/02: NAC Reinsurance/XL Capital Limited has regained possession of its space at 140 Broadway. Downtown Existing
NAIC Securities Insurance 7 WTC 22,500 2/02: In November, NAIC Securities has signed a lease for 16,000sf at 1411 Broadway, 9th floor. Midtown
Napoli Kaiser & Associates Legal 115 Broadway 10,000 2/02: In November, Napoli Kaiser & Associates regained possession of its space at 115 Broadway. Downtown Existing
Nasdaq Financial 1 Liberty Plaza 160,927 2/02: Nasdaq will return to One Liberty Plaza on a temporary basis until the company secures permanent space in Times Square. Nasdaq is moving to Times Square to be near its MarketSite office. NASD, parent company, will remain at One Liberty Plaza. Downtown Existing
National Development & Research Institute Personal Services 2 WTC 44,325 2/02: NDRI signed a long term lease for 39,000sf at 71 West 23rd Street. Midtown
Natsource Inc. Financial 140 Broadway 15,475 2/02: Natsource is marketing the sublease of 15,475sf at 140 Broadway. Relocation destination is unknown. N/A
New Japan Securities (Shinko Co. Ltd) Financial 1 Liberty Plaza 16,986 2/02: New Japan Securities has not announced plans. Part of the Mizuho Group and Shinko Securities, NJS is temporarily operating from New Jersey. New Jersey
New York Mercantile Exchange Financial 22 Cortlandt St 85,770 2/02: NYMEX employees are temporarily operating from 1 North End Avenue, New York. Expect to return to 22 Cortlandt when repaired. Downtown Existing
New York Stock Exchange, Inc Financial 2 WTC 10,853 2/02: NYSE signed a long-term sublease for 65,000sf at 14 Wall Street in November. NYSE has secured a disaster recovery site in New York in December, location not disclosed. Downtown
Nikko Securities Financial 1 WTC 10,000 2/02: Nikko will move into its new 13,000sf office space at 535 Madison Avenue on March 1, 2002. Midtown
Nomura Securities Financial 2 WFC 50,000 2/02: Nomura Securities is temporarily operating from headquarters at 25 Corporate Place South, Piscataway, NJ and has also secured additional temporary office space for certain business groups. Nomura expects to return to 2 WFC in the second quarter of 2002. Downtown Existing
Odyssey RE Insurance 22 Cortlandt St 17,145 2/02: Odyssey Re regained possession of its space at 22 Cortlandt Street in January. Downtown Existing
Ogaki Kyoritsu Bank Financial 1 Liberty Plaza 18,487 2/02: Ogaki Kyoritsu regained possession of its space at One Liberty Plaza in October. Downtown Existing
Ohrenstein & Brown Legal 1 WTC 33,000 2/02: O&B signed a 10-year lease for 20,000sf at 1 Penn Plaza. Occupancy is expected in the second quarter of 2002. Midtown
Oppenheimer Funds/Mass Mutual Life Ins. Co. Financial 2 WTC 231,000 2/02: In November, Oppenheimer Funds signed a 10-year lease at 498 Seventh Avenue. The new offices are a total of 135,000sf and occupancy is expected by the end of the year. Oppenheimer indicated that it has no plans to take space in New Jersey - Oppenheimer expects to remain in New York. Midtown
Pace University Personal Services 1 WTC 45,943 2/02: Pace signed a lease for an additional 40,900sf at 161 William St. for the permanent relocation of 1 WTC operations. Pace expects to occupy the space in the fall of 2002. Downtown
PaineWebber Financial 140 Broadway 23,000 2/02: Paine Webber reoccupied its space at 140 Broadway in November. Downtown Existing
Partner Reinsurance Insurance 2 WFC 36,000 2/02: Partner Reinsurance moved to One Greenwich Plaza Greenwich, CT in November. Relocate Elsewhere - CT
Patrusky Mintz & Samel Accounting 22 Cortlandt St 16,650 2/02: PMS is operating from temporary space at 720 Fifth Avenue and has not announced permanent relocation plans. Expects to return to 22 Cortland when repaired. Downtown Existing
Pinkerton Computer Consultants Business Services 140 Broadway 22,750 2/02: Pinkerton regained possession of its space at 140 Broadway in January. Some administrative, recruiting and management functions continue to operate from Iselin, NJ. Downtown Existing
Plural, Inc. Computer Services 115 Broadway 55,400 2/02: Plural regained possession of its space at 115 Broadway in November. Downtown Existing
Prudential Securities, Inc. Financial 1 Liberty Plaza 32,667 2/02: Prudential Securities regained possession of its 32,667sf space at One Liberty Plaza in January, but also has 1.95 MM sf elsewhere in the City. PS is currently marketing 90,000sf at 199 Water, but it is reported that PS may sublease all of its 500,000sf in 199 Water and consolidate into 1 New York Plaza (1.2MMsf). Downtown Existing
R.R. Donnelly & Sons, Inc. Printing 75 Park Place 86,978 2/02: R.R. Donnelly regained possession of its space at 75 Park Place in January. 40% of employees have returned, remaining 60% will return mid-2002. Downtown Existing
Refco Financial 1 WFC 60,000 2/02: Refco has temporarily relocated to Subotnik Financial Services Center/Wasserman Trading Floor at Baruch College. Refco also has temporary space at 37th and 7th Avenue, and in Jersey City. Refco expects to return to One World Financial. Downtown Existing
Reserve Bank of Australia Financial 1 Liberty Plaza 4,647 2/02: Reserve Bank of Australia regained possession of its space at One Liberty in December. Downtown Existing
Rolfe & Nolan/BSI Computer 111 Broadway 10,000 2/02: Rolfe & Nolan regained possession of its space at 111 Broadway in November. Downtown Existing
Royal Bank of Canada/RBC Dain Rauscher Financial 1 Liberty Plaza 164,204 2/02: Royal Bank of Canada plans to decentralize its operations, all of which were formerly housed at One Liberty Plaza in 164,204sf. In November, Royal Bank signed a lease for 40,000sf in Purchase, NY for a term of six years and has an option to expand into another 25,000sf there. Royal Bank expects to return to its space at One Liberty Plaza. Downtown Existing, Elsewhere
S&W Agency (Guardian Life Ins.) Insurance 140 Broadway 23,000 2/02: S&W Agency regained possession of its space at 140 Broadway in January. Downtown Existing
Sandler O'Neill & Partners Financial 2 WTC 30,000 2/02: Sandler O'Neill signed a lease at 919 Third Avenue in October. Midtown
SCOR U.S. Corporation Insurance 2 WTC 59,000 2/02: SCOR consolidated with a newly acquired company in 2001 that had extra space at 199 Water Street and backfilled at that location. Downtown Backfill
Scotia Mocatta Financial 1 Liberty Plaza 25,000 2/02: Scotia Mocatta employees are temporarily operating from 1675 Broadway. Scotia expects to return to One Liberty in mid-2002. Downtown Existing
Seabury & Smith Insurance Insurance 2 WTC 40,000 2/02: Seabury & Smith is consolidated with Marsh at 1166 Avenue of the Americas in approximately 30,000sf. Seabury will also relocate to 10,000sf to Hoboken, NJ. Midtown, New Jersey
Seguros Commercial America Business Services 2 WTC 27,000 2/02: After 9/11, Seguros Commercial closed the New York Office. Relocate Elsewhere: Closed NYC Office - Texas
Shields & Co. Financial 140 Broadway 23,000 2/02: Shields & Co. regained possession of 140 Broadway in January. Downtown Existing
Sidley Austin Brown & Wood, L.L.P. Legal 1 WTC 223,100 2/02: In December, Sidley Austin Brown & Wood signed a lease for 338,000sf at 787 Seventh Avenue. The space will occupy 11 contiguous floors and SAB&W expects occupancy by next summer. Immediately after 9/11, SAB&W leased additional temporary space at 875 Third Avenue, home of its Midtown office. Midtown
Standard Chartered Bank Financial 7 WTC 111,398 2/02: Standard Chartered Bank is temporarily operating from 1 Evertrust Plaza, Jersey City, NJ. Standard Chartered Bank is negotiating for space at Times Square. Midtown
Storage Technology Business Services 1 WFC 30,000 2/02: Temporarily operating from existing offices at 151 Fairchild Avenue Plainview, NY and 244 Sheffield Street, Mountainside, NJ. Expects to return to One World Financial when repaired. Downtown Existing
Summit Systems, Inc. Computer Services 22 Cortlandt St 34,290 2/02:Summit relocated temporarily to 233 Broadway Summit expects to return to 22 Cortlandt Street in the second quarter of 2002. Downtown Existing
Sun Microsystems, Inc. Computers/ Data Processing 2 WTC 89,162 2/02: Sun Microsystems signed a lease in December for 78,200sf on floors 3 and 4 at 101 Park Avenue and expects to occupy the space in the fall of 2002. Midtown
Swets Blackwell Publishing 22 Cortlandt St 33,300 2/02: Swets Blackwell moved out of 22 Cortlandt in August 2001. A new location at 105 Chambers Street houses 32 employees. Downtown
Swiss RE America Corporate Services Insurance 1 Liberty Plaza 24,722 2/02: Swiss Re regained possession of its 20,000sf office space at One Liberty Plaza in December. Downtown Existing
Taipei Bank Financial 1 WTC 12,111 2/02: Taipei Bank is in the process of signing a lease Downtown. Downtown
TD Waterhouse Group, Inc. Financial 2 WTC 18,591 2/02: A slow move to a new headquarters in Jersey City was in progress since June and many employees from WTC and other locations had already relocated there. After the attack, WTC employees moved to the new headquarters in Harborside, Jersey City, and a few to existing offices at 100 Wall Street. New Jersey Backfill
Thales Fund Management Financial 140 Broadway 10,122 2/02: Thales Fund Management regained possession of its space at 140 Broadway in January. Downtown Existing
Thatcher, Proffitt & Wood Legal 2 WTC 120,000 2/02: Immediately after 9/11, Thacher, Proffitt & Wood relocated to 11 W. 42nd. St. Midtown
The Beast.Com Computers/ Data Processing 1 WTC 21,000 2/02: TheBeast.com signed a long-term lease in January at 404 5th Avenue for approximately 20,000sf. Midtown
The Nishi-Nippon Bank, Ltd. Financial 1 WTC 10,325 2/02: The Nishi-Nippon Bank closed its New York office at 1 WTC. Does not plan to keep an office in New York. Relocate Elsewhere - Closed NYC Office - Japan
The Robin Hood Foundation Social Services 111 Broadway 14,291 2/02: Robin Hood is undecided about returning to 111 Broadway. The Foundation is in temporary space at 828 Broadway. N/A
TradeWeb LLC Financial 1 WTC 50,000 2/02: TradeWeb LLC expects to relocate to new construction in Jersey City with 82 employees. New Jersey
Trading Edge Financial 140 Broadway 23,976 2/02: Trading Edge/Market Axcess regained possession of its 23,967sf space at 140 Broadway in January. Downtown Existing
Tradition Asiel Securities Financial 75 Park Place 47,260 2/02: Tradition Asiel Securities reoccupied its 47,260sf at 75 Park Place with 340 employees in January. Downtown Existing
Transaction Information Systems Computer Services 115 Broadway 58,000 2/02: TIS regained possession of its space at 115 Broadway in December. Downtown Existing
Tucker Anthony Financial 1 WFC 30,000 2/02: Tucker Anthony relocated to existing offices at 666 Fifth Avenue; Jersey City, NJ; and Stamford, CT. Midtown Backfill
Tudor Investment Corp. Financial 1 Liberty Plaza 10,500 2/02: After 9/11, Tudor relocated to Connecticut to be closer to Greenwich office. Space at One Liberty is available for sublease. Relocate Elsewhere - Connecticut
Union Bank of California Financial 2 WTC 25,146 2/02: Union Bank signed a long-term lease for approximately 25,000sf at 40 Wall Street in October. Downtown
Unistrat Corporation of America Business Services 2 WTC 10,000 2/02: In October, Unistrat joined with affiliate company SCOR in its space at 199 Water St. Downtown
Vanguard Direct Financial 90 West St 13,433 2/02: Vanguard Direct relocated to 13,000sf at 519 8th Avenue in December. Midtown
Verizon Communications Communications 2 WTC, 140 West St. 155,490; 1,171,540 2/02: Verizon had 400 employees in 155,490sf at 2 WTC and is the sole tenant of 140 West Street (a building of 1,171,540sf). While 140 West Street sustained some damage, only a few of the 1,700 employees were displaced from 140 West Street. After 9/11, Verizon was able to backfill extra vacant space in other New York City locations for employees from 2 WTC. All employees that worked in 2 WTC are still working within the City. Midtown Backfill, Downtown Backfill, Downtown Existing
Washington Group, Intl. Manufacturing 2 WTC 48,800 2/02: In October, Washington Group signed a lease for 32,000sf at 1 Penn Plaza Midtown
Watersdesign Associates Business Services 22 Cortlandt St 17,145 2/02: Watersdesign Associates will occupy temporary space at 18 East 16th Street until 2003 and will evaluate a sublease of its space at 22 Cortlandt. Midtown
Weatherly Securities Corp. Financial 2 WTC 18,801 2/02: Weatherly Securities relocated to 18,000sf at 10 East 50th Street. As part of a decentralization plan, Weatherly leased 5,000sf in LI and some WTC employees are operating from other offices in Garden City, NJ. Midtown
Wheelhouse Business Services 22 Cortlandt St 16,650 Wheelhouse has not announced plans. N/A
White, Fleischner & Fino Legal 140 Broadway 23,626 2/02: White, Fleischner & Fino regained possession of its space at 140 Broadway in November. Downtown Existing
World Travel Services Transportation 1 WTC 25,000 2/02: World Travel relocated to existing offices at 1120 Ave of the Americas in October. Midtown Backfill
X-Com Technologies/ Level 3 Communications Communications 100 Church 18,061 2/02: In October, X-COM/Level 3 announced that operations are relocated to headquarters, 1025 El Dorado Blvd., Broomfield, CO. NYC Office is closed. Relocate Elsewhere - Closed NY Office - Colorado
Yasuda Fire & Marine (Mizuho) Insurance 2 WFC 27,000 2/02: Yasuda Fire and Marine Insurance Company of America expects to return to 2 WFC in the first quarter of 2002. As part of Mizuho, Yasuda is temporarily operating from 400 Kelby Street, Fort Lee, NJ and 545 Washington Blvd., Jersey City, NJ. Downtown Existing
YMCA Retirement Fund Social Services 140 Broadway 147,638 2/02: YMCA RF regained possession of its space at 140 Broadway in November. Downtown Existing
Zim-American Israeli Shipping Transportation 1 WTC 10,000 2/02: Zim-American Israeli Shipping had put its 16th floor space at the World Trade Center up for sublease and moved a majority of its employees to Norfolk, VA before the attack. Now, a few employees have moved into a smaller 5,000sf office at 1000 South Avenue in Staten Island, NY. Relocate New York State - Staten Island
Zurich North America Insurance 1 Liberty Plaza 70,818 2/02: Zurich North America has leased temporary space at 1 Upper Pond Road, Parsippany, NJ; 105 E. 17th Street, NY; and 601 W. 26th Street. Zurich has also relocated employees to existing space in Hauppauge, Long Island. Zurich expects to return to One Liberty Plaza in the second quarter of 2002. Downtown Existing
Zurich Re Insurance 22 Cortlandt St 17,145 2/02: Zurich ReInsurance/Converium will not reoccupy its 6,125sf space at 22 Cortlandt Street. Converium relocated its employees to existing office space at One Chase Manhattan Plaza. Downtown

For further information contact:
M. Myers Mermel
Chief Executive Officer
(212) 943-7777
Caroline McLain
Chief Financial Officer
(212) 943-1902

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