Jones Lang LaSalle
UBS swings into more space on Park

Investment Banking Giant UBS is taking over 45,500 square feet, or the entire seventh floor, at 101 Park Ave., between East 40th and East 41st streets. UBS, which already occupies 97,400 square feet on five floors in the building, signed a sublease with law firm Morgan Lewis & Bockius.

The lease runs through September 2014. The asking rent in the building is $50 a square foot.

Morgan Lewis was using the seventh floor as a swing space for its employees while it renovated the 175,400 square feet it occupies on nine floors in the building. The renovations, which took nearly two years, were completed in March.

"Morgan Lewis had an ingenious idea to move groups of people downstairs while their offices were being renovated so it wouldn't be so disruptive," says Barbara Winter, senior vice president at Jones Lang LaSalle, which represented the law firm. Cushman & Wakefield Inc. represented UBS.

Sun Microsystems, HJ Kalikow and Booz Allen Hamilton are among the other tenants at 101 Park.