Knowledgeable local real estate sources indicate that Citigroup Asset Management has signed new leases for 117,000 sf of space at 300 First Stamford Place and for an additional 28,097 sf of space at 100 First Stamford Place. The company had already occupied approximately 144,000 sf of space at 100 First Stamford Place. The First Stamford Place complex, owned by an entity of the Malkin family, consists of three buildings, which total approximately 765,000 sf. The 100 and 300 First Stamford Place properties are seven-story buildings that each contain more than 300,000 sf. Some of the space leased by Citigroup Asset Management was sublease space taken back by the property owner and then leased directly to Citigroup Asset Management, sources say.

Sally Kates, a spokesperson for Citigroup Asset Management released the following statement confirming the transaction: "Citigroup Asset Management signed a lease in Stamford for supplemental space which adds to the existing facilities we already have in Stamford. For several years our CAM business has been based both in New York City and Stamford and this situation will continue." The company had operated out of offices located at 7 World Trade Center, which was destroyed in the terrorist attack in New York City on Sept. 11.

Kates would not divulge any details concerning the lease at the Stamford properties. Nor would Cushman & Wakefield, which according to sources represented Citigroup Asset Management in the transaction. W&M Properties, which negotiated the deal for the property owner, did not return phone calls for comment. Joseph Cabrera, an executive director for Cushman & Wakefield's Midtown brokerage office, brokered the deal for Citigroup Asset Management, sources add.