In a transaction arranged by CBRE, Legal & General Retirement America will lease 17,100 square feet on the ninth floor of the newly renovated Stamford Towers, located at 750 Washington Blvd. in Stamford, Conn.
The office will serve as the new headquarters for Legal & General Retirement America, the US arm of Legal & General’s institutional retirement business, which specializes in pension risk transfer. Legal & General, a UK-based financial services group, is a global market leader in managing pension fund risk and a top 20 global asset manager.
Legal & General Retirement America plans to open the office in the 193,000-square-foot building during the first quarter of 2020. The firm will create an open-office floorplan that takes full advantage of a private terrace and a unique reception area with a 23-foot atrium.
The CBRE team of David Block and Joseph Weaver represented the building ownership, CBRE Global Investors, in the lease negotiations. Rick Rosencrans of JLL acted on behalf of Legal & General Retirement America. This deal was the largest new lease signed in Fairfield County during the second quarter of 2019.
“Tenants are attracted to Stamford Towers in large part because of its great location and the full suite of on-site amenities offered at the property,” said Block of CBRE. “The building’s combination of robust, high-end amenities coupled with close proximity to transit and various retail outlets has also proven to be a key factor in tenants’ ability attract and retain top talent.”
CBRE Global Investors acquired 750 Washington Blvd. in 2017 and added value by implementing a significant capital improvement campaign, which included the implementation of its signature five-star worldwide service and amenity program. Recent renovations at the property include reimagined entryways and renovated lobbies with ample seating; a top-of-the-line fitness center, including a basketball court and weekly group fitness classes; an on-site café; a collaborative conference facility with high-end fixtures and finishes; a Zagster bike-share station; and an outdoor meeting/recreation area with a bocce ball court. Ownership also invested in full-building generator backup.
“This transaction affirms the notion that corporate tenants are seeking meaningful amenity packages in buildings that act as an extension of their own brand,” Block added. “Continued reinvestment, such as the work that CBRE Global Investors has done at Stamford Towers, speaks volumes to potential tenants and shows that the Fairfield County marketplace will continue to be an attractive option for top-tier global firms.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.
About Legal & General America
Legal & General America (LGA) is part of the worldwide Legal & General Group. For over 70 years, the Legal & General America companies have been in the business of providing financial protection through life insurance for American families. The Legal & General America companies are Banner Life Insurance Company and William Penn Life Insurance Company of New York. With more than $58 billion in new coverage issued in 2018, LGA is ranked in the top ten of U.S. life insurers and ended 2018 with in excess of $734 billion of coverage in force with 1.3 million U.S. customers. LGA shares Legal & General's independent financial strength ratings: A+ Superior from A. M. Best and AA- Very Strong from Standard and Poor's and Fitch.
