Despite some rumors of its headquarters at 70 Pine St.potentially on the block, the source says that "the rumor isunfounded" and AIG will not be selling. "It will remain thecompany's headquarters."
The source notes that the new lease will "allow consolidation ofseveral of those Downtown AIG offices," adding that it will serveas the firm's overseas property casualty headquarters, not AIG'sheadquarters.
The source tells GlobeSt.com that the firm will move into thebuilding in phases beginning in September of this year, and willtake approximately 800,000 sf by 2011. "Eventually AIG will occupyapproximately 30 floors and have renewals rights through 2024."
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