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HSBC explores move from its signature building

By WBFO News

Buffalo, NY – HSBC Bank is looking at alternatives to its current home in downtown Buffalo's tallest building.

HSBC has made no official announcement that its moving, but with the expiration of its lease coming in October of 2013, the company has issued proposals to local developers as it explores its options.

Neil Brazil, a company spokesman, told the Buffalo News that looking at property alternatives is "part of standard business practices." Brazil says one of those options is maintaining the status-quo. HSBC has been in the building since 1972, and is its biggest tenant, occupying more than 60 percent of the available space.

Another of the building's major tenants, the law firm of Phillips Lytle, has a lease that expires in December of 2013 and is said to be exploring its property options as well.