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October 20, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Legal & General Retirement America takes 17K square feet at Stamford Towers

Stamford Towers. Photo courtesy CBRE

Legal & General Retirement America is leasing 17,100 square feet at the newly renovated Stamford Towers to serve as its new headquarters, according to CBRE.

The deal was the largest new lease signed in Fairfield County during the second quarter of 2019, CBRE said.

The office, on the 9th floor at 750 Washington Blvd., will be home to the U.S. arm of Legal & General’s institutional retirement business, which specializes in pension risk transfer. Legal & General, a U.K.-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 floor plan that includes a private terrace and a 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.

CBRE Global Investors acquired 750 Washington Blvd. in 2017 for $97 million and implemented a significant capital improvement campaign. Recent renovations at the property include entryways and lobbies with ample seating; a fitness center including a basketball court and weekly group fitness classes; an on-site café; a collaborative conference facility; a Zagster bikeshare station; and an outdoor meeting/recreation area with a bocce ball court. Ownership also invested in a 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 said. “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.”