International headquarters

Owners confirm Philip Morris move to Stamford

STAMFORD – Tobacco giant Philip Morris International will open its new headquarters at the end of next year in the downtown Washington Boulevard complex previously occupied by UBS, the owners of the property said on Wednesday.

PMI has signed a 12-year lease for 71,484 square feet, covering all 11th and 12th floors, at 677 Washington, according to an announcement from commercial real estate company George Comfort & Sons, who is part of the property team. of the property. The signing of the lease and the planned move in late 2022 follows PMI’s announcement in June that it would move its main offices from 120 Park Ave. in midtown Manhattan to somewhere in Connecticut and create around 200 jobs. .

The selection of 677 Washington – which is just yards from Interstate 95 and the main Stamford Metro-North Railroad station – was widely anticipated after Governor Ned Lamont and U.S. Representative Jim Himes said last week that ‘they planned that PMI would move to this location.

“We are delighted to welcome these tenants to 677 Washington Blvd., and bring the complex closer to full occupancy,” George Comfort & Sons CEO and Chairman Peter Duncan said in a statement. “This property has long been viewed as a commercial centerpiece of downtown Stamford, and recent successful rental activity here proves that it is more attractive than ever to a range of businesses across various industries.”

A message left on Wednesday for PMI was not immediately returned.

The arrival of PMI, which sells brands of cigarettes such as Marlboro and smokeless tobacco products outside the United States, will bring the number of Connecticut-based Fortune 500 companies to 15. revenue of nearly $ 29 billion in 2020.

PMI does not sell or market tobacco products in the United States. Philip Morris USA – a subsidiary of the Altria group, from which PMI emerged in 2008 – dominates the cigarette market in the country. Marlboro is Philip Morris USA’s best-selling brand.

No more arrivals at 677 Washington

George Comfort & Sons also announced several other new leases on Wednesday at 677 Washington, a three-building complex that spans more than 12 acres. It consists of a 13-storey office tower, a seven-storey pavilion, and a three-storey commercial and “auxiliary” building.

XL Global Services, a provider of property and casualty insurance services, signed an 11-year lease for 21,879 square feet on the 10th floor. It plans to move from its Stamford location to 70 Seaview Ave. in the third quarter of 2022.

Investment firm General Atlantic, which decided to take part of the eighth floor earlier this year in a move from Greenwich, has expanded its planned presence to a total of 21,879 square feet. Another financial services company, Sandbrook Capital, has signed a 10-year lease for 4,995 square feet on the eighth floor and plans to take possession in the first quarter of 2022.

The resort is now 95 percent leased, according to George Comfort & Sons.

WWE, which is now headquartered on the East Side of Stamford at 1241 E. Main St., will be the largest tenant at 677 Washington.

In March 2019, WWE announced its decision to move its headquarters to 677 Washington and lease approximately 415,000 square feet for office space in the tower and a production facility in the pavilion.

The disruption from the COVID-19 pandemic has delayed the relocation, but WWE officials said earlier this year that the company plans to begin its move in the fourth quarter of 2022.

Those additions, combined with arrivals over the past two years such as professional services firm KPMG and architectural firm Perkins Eastman, highlighted a dramatic recovery for 677 Washington. Three years ago, it had become the largest vacant office building in the city after international banking giant UBS in 2016 moved its local offices to a smaller space across the street at 600 Washington Blvd. ., amid major job losses.

While based at 677 Washington, UBS operated one of the world’s trading floors.

Manhattan-based George Comfort & Sons joined Beverly Hills, California-based AVG Partners as part of the property’s ownership team in early 2018, taking on operating and leasing responsibilities. George Comfort & Sons’ portfolio also includes two other office complexes in Stamford, High Ridge Park and Shippan Landing.

The owners team’s “repositioning program” also includes on-site plans for an apartment building of approximately 400 units and additional commercial use.

[email protected]; twitter: @paulschott

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Rodney N.

The author Rodney N.