KKR & Co. Inc. and Wells Fargo & Co. are interested in adding more office space at Hudson Yards on the western edge of Midtown Manhattan, The Wall Street Journal reported Tuesday. For KKR, a potential expansion would add to a $500 million investment disclosed in October to buy a majority stake in the observation deck of the flagship office tower in the development. Wells Fargo currently occupies 500,000 feet in the same building and KKR owns the top 10 floors. The moves come amid sluggish demand for office space in major cities including the Big Apple. Meanwhile, Related Cos. continues to search for a flagship retail tenant at Hudson Yards after Neiman Marcus departed in 2020.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
