Westpac Banking Corporation, the oldest Australian-based banking company, has renewed and expanded its lease at 575 Fifth Avenue.
Savills Studley managed the 15,475 s/f, 10-year transaction. Westpac has resided in the building since 1996.
Daniel O. Horowitz and Gary Kerper represented the tenant, while Keith Caggiano and Gregg Rothkin of CBRE represented the landlord, an entity owned by Metropolitan Life Insurance Company.
Horowitz said that the renewal option “enables Westpac to maintain its prestigious location, redesign its layout to accommodate a growing subsidiary, and avoid the costs and complications of relocating its data center.”
Westpac will occupy the entire 39th floor of 575.