National City Bank wants to sublease two large blocks of office space at separate locations Downtown and on the North Side.
The bank is hoping to find other companies to occupy about 100,000 square feet at Allegheny Center office-retail complex, and 80,000 square feet at National City Center on Stanwix Street.
"We are always exploring ways to use our space in Allegheny Center and National City Center more efficiently," spokesman William Eiler said on Friday. "Changes in our business such as work stations, technology and imaging to name a few require this sort of ongoing assessment."
National City has about 275,000 square feet at Allegheny Center and about 162,000 square feet at National City Center.
The company, the nation's 10th largest bank and subject to takeover speculation because of troubles with problem real estate loans, has 1,900 employees in the Pittsburgh region.
Eiler said that includes about 250 at National City Center, and no major changes in that number are expected.
National City has a long-term lease at National City Center, and the company is "pleased with the building and its location, ownership and management," he said.
The company occupies 10 of the 20 floors in the building and has hired the Jones Lang LaSalle commercial real estate firm to market a portion of that space and the space at Allegheny Center for sublease, he said.
"We have occupied Allegheny Center since 1993 and have always had space available," he said. "Over the past five years, we have consolidated operational functions to and from Pittsburgh."
In January 2007, the company sold its subprime mortgage business -- First Franklin of San Jose, Calif. -- to Merrill Lynch & Co. At that time, it shut down a separate unit at Allegheny Center that originated subprime loans, called Preferred Advantage, eliminating 50 jobs.
It also sold its Home Loan Services business to Merrill Lynch, and since that time, that unit's employment at Allegheny Center has increased by 300 to 600, Merrill Lynch spokesman Bill Halldin said.
The business processes mortgage payments, taxes and related documents for subprime loans. It occupies about 144,000 square feet at Allegheny Center, Halldin said.
It employs more than 300 people at a related call center on Boyce Road in Upper St. Clair.
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