Citibank Signs 30,000-SF Lease in Stamford

Jeffrey Newman, EVP of W&M Properties, says the office will serve as the Connecticut headquarters for the Citigroup Global Wealth Management division. Occupancy is expected by this August.

Newman represented the building ownership in the transaction. Citibank was represented in-house, he adds. W&M Construction will begin building out the space for Citigroup Global Wealth Management, which is headquartered at 787 Seventh Ave. in New York City. With the deal, the First Stamford Place complex is now 94% leased.

Newman says the firm will be occupying space formerly occupied by Weekly Reader, an educational publication of Reader's Digest. Weekly Reader moved its operations from Stamford to the Reader's Digest complex in Chappaqua, NY last year, he notes.

"The selection of First Stamford Place by a global business leader such as Citibank underscores the stellar reputation of this trophy property as the location of choice for prestigious companies," Newman says. "These tenants appreciate the building's proximity and easy access to interstate highways and mass transportation, hands-on management services and a wide array of on-site amenities that foster increased employee productivity and serve as meaningful employee recruitment and retention tools for their businesses."

Citigroup Global Wealth Management division will be joining Legg Mason, Odyssey Reinsurance, Elizabeth Arden, Crane Co. and Bank of Ireland as major tenants at the First Stamford Place complex.