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STAMFORD, CT-In the second major transaction involving a business displaced by the terrorist attack on the World Trade Center on September 11, Citigroup Asset Management has signed leases for approximately 145,000 sf of new space at two downtown buildings here, GlobeSt.com has learned

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.

Citigroup Asset Management will retain offices in New York City and will relocate an unspecified number of employees to its expanded Stamford offices, Kates says. The company offers services to high net worth and retail clients from global investment centers around the world. The firm, which had aggregate assets under management of $40.1 billion as of Dec. 31, 2001, offers services such as mutual funds, closed-end funds, separate managed accounts, unit investment trusts and variable annuities.

The deal marks the second major lease deal in Stamford by a firm impacted by the terrorist attack on the World Trade Center on Sept. 11. Less than a week after the collapse of the Twin Towers, American Express signed a leas for approximately 175,000 sf of space at 400 Atlantic St. American Express had operated out of 3 World Financial Center, which was damaged in the terrorist attack.

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