HSBC Tower to be 95% Empty by 2014

9:58 AM, Jul 1, 2013   |    comments
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Buffalo, NY - It is Buffalo's tallest building, and after its two largest tenants leave, the HSBC Tower will have a 95-percent vacancy rate.

The tallest building in Buffalo's skyline will only be five-percent full by 2014. That's what those with Seneca One Reality, the company looking for new tenants, told WGRZ Thursday over the phone.

With the Tower's namesake company, and largest tenant, leaving when its lease is up at the end of October, and Phillips Lytle's lease expiring at year's end, HSBC Tower will be 95-percent empty the first of the year.

Seneca One's website shows fantastic views from spacious offices, but as of right now, we have no word on what companies are interested in filling the empty spaces.

Thursday, HSBC altered media outlets that it will make a big announcement about a "major investment" in Buffalo area facilities Monday afternoon. But, when we contacted HSBC, the company's spokesperson declined to reveal details until Monday morning.

HSBC did tell us there are more than three-thousand HSBC professionals based in the Buffalo area making the company one of the region's largest private sector employers. HSBC says it expects the number of employees here to stay at three-thousand based on the current and projected business environment.

So where will those employees go once the lease is up? The HSBC Atrium in downtown Buffalo. A source tells Channel 2 that Monday's announcement is about a complete overhaul of the Atrium.

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