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NEW YORK CITY-Moody’s Corp. is preparing to relocate to 7 World Trade Center and in so doing the company has sold its current headquarters to Silverstein Properties and the California State Teachers’ Retirement System for $170 million. The sale of 99 Church St., a 441,000-sf, 11-story office building, marks the second joint venture of Silverstein and CalSTRS.

The deal is not expected to close until mid-December, but once it does Moody’s will lease back the space until the company is ready to move into its new global headquarters. In June, as reported by GlobeSt.com, Moody’s agreed to occupy 600,000 sf in the first World Trade Center to rise after 9/11. The company will occupy floors 12 through 26 and will begin moving in this May. By October the company is expected to fully occupy the new space.

In October, Silverstein and CalSTRS acquired 575 Lexington Ave. for $400 million, as reported by GlobeSt.com.

Moody’s was represented by CB Richard Ellis’William Shanahan and Darcy Stacom. CalSTRS was advised by CB Richard Ellis Investors.

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