United Bank for Africa- Analysis- 2019-11-07 for Real Estate

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Scenario D: 50 Rockefeller Plaza
Pros:
 Possession is February 2021,
enabling UBA to avoid a double rent
scenario
 The floorplate (approx. 18k sf) is an
ideal size
 Customers and employees’
commutes will be unchanged
Cons:
 Delays UBA improving workplace
strategy/environment until 2021
 Rockefeller Center is busy with
tourists
 UBA’s per square foot rent will not
materially decrease
 High operating expenses
Major Tenants:
 Citrin Cooperman
 Katten Muchin Rosenman LLP
 Bank of America (vacating in
2021)
 W.P. Carey
Core Plan
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