After months of relative uncertainty, Philip Morris International this morning made it official: Its new headquarters will be at 677 Washington Boulevard in Stamford.
George Comfort & Sons said that PMI has signed a 12-year lease for 71,484 square feet, encompassing the entire 11th and 12th floors of the building. The company is relocating its headquarters from 120 Park Ave. in New York City and plans to take occupancy at 677 Washington in late 2022.
The firm announced in June its plans to move to Fairfield County, though a specific location had not been finalized. Stamford was considered the likeliest possibility, with Gov. Ned Lamont saying last week that he”™d “bet on” PMI coming to the building.
Completed in 1998 to serve as the North American headquarters of UBS, the complex was gradually vacated over the course of a decade. George Comfort & Sons joined AVG Partners in the property”™s ownership in early 2018, taking on operating and leasing responsibilities, as well as developing and executing the plan to reposition and re-lease the buildings.
In addition to PMI, XL Global Services Inc. has signed an 11-year lease for a 21,879-square-foot portion of the 10th floor. Specializing in property and casualty insurance services, the firm plans to move from 70 Seaview Ave. in Stamford in the third quarter of 2022.
Also, growth equity investor General Atlantic, which opted for a portion of the 8th floor earlier this year in a relocation from Greenwich, has expanded its planned presence to a total of 21,879 square feet.
And Sandbrook Capital LLC signed a 10-year lease for 4,995 square feet on the 8th floor where it will take occupancy in the first quarter of 2022.
Upcoming plans for the site include the development of a 400-unit apartment building with an additional retail component.
“This property has long been regarded as a commercial centerpiece of downtown Stamford, and the recent successful leasing activity here proves that it is as appealing as ever to a range of firms across various industries,” said George Comfort & Sons President and CEO Peter S. Duncan.
677 Washington Boulevard is a Class A complex located on over 12 acres. It includes the 13-story Office Tower, the seven-story Pavilion, and a three-story retail and ancillary building. Current tenants include WWE, KPMG and Perkins Eastman.
