P.M. BRIEFING : Grace Reported Moving to Fla.
W. R. Grace & Co., a fixture in New York since the late 1800s, reportedly plans to move the bulk of its headquarters staff out of Manhattan.
The chemicals company plans to keep a staff of 20 to 50 people in the city, with the remaining 400 being shifted to Florida, the Wall Street Journal reported today, quoting real estate executives who discussed the plans with the company.
W. R. Grace leases about 200,000 square feet on 10 floors of the 50-story mid-town W. R. Grace Building.
It was unclear where J. Peter Grace, company chairman and chief executive officer, and other senior officials would be based, the Journal said. Grace’s grandfather, William R. Grace, was mayor of New York City from 1881 to 1882.
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