NEW YORK CITY-Wells Fargo is consolidating a number of Midtown office locations into about 300,000 square feet at Global Holdings’ 120 Park Ave., according to published reports. Currently, the San Francisco-based bank has offices at 12 E. 49th St., 2 Grand Central Tower, 1211 Ave. of the Americas and 40 W. 57th St. The deal reportedly includes expansion rights that could allow Wells to occupy as much as 400,000 square feet of the largely vacant 120 Park, which Global Holdings bought from Altria for $525 million in late 2007. Altria later relocated its Philip Morris headquarters, which occupied much of the property, to Virginia.

The New York Observer reported Friday that a team from Eastdil Secured, which is owned by Wells Fargo, represented the parent company in its search for space, while Jones Lang LaSalle’s Paul Glickman represented the landlord. A Wells Fargo spokewoman tells GlobeSt.com that while the company is evaluating its New York-area space requirements based on upcoming lease expirations, no decisions have been made. GlobeSt.com's call to JLL was not returned by deadline.

If published reports about the 120 Park deal are accurate, this would be the third deal for more than 250,000 square feet of Midtown office space in less than two months. The New York Post first reported just before Christmas that accounting firm Deloitte was leaving Downtown and moving into 430,000 square feet at 30 Rockefeller Center, and GlobeSt.com reported last month that global trading firm Li & Fung had committed to 490,000 square feet at the Empire State Building. Click here for the Observer article.