Ameriprise Financial to Lease 20,000 SF at 7 WTC
NEW YORK — January 4, 2006 — Silverstein Properties and Ameriprise Financial, Inc. (NYSE: AMP) today announced that Ameriprise Financial, a leading financial planning, asset management and insurance company, has signed a 10-year lease for approximately 20,000 sq. ft. covering half of the 39th floor at 7 World Trade Center. CB Richard Ellis, exclusive leasing agent for 7 WTC, represented Silverstein Properties in the transaction. Trammell Crow Company represented Ameriprise Financial. The announcement comes on the heels of the New York Academy of Sciences' 40,000-sq. ft. lease signed on December 15, 2005.
"We are pleased to announce another lease at 7 World Trade Center," said Josef Mittlemann, Chief Operating Officer of Silverstein Properties, who has taken an active role to help accelerate the transaction making process. "I want to thank the brokers and attorneys who helped bring about this transaction. We are delighted to welcome Ameriprise Financial to the building, and with the New York Academy of Sciences' deal closed and others in the pipeline accelerating, we look forward to a very successful 2006."
Ameriprise Financial's New York City office move follows the company's recent spin-off from American Express, which was completed on September 30, 2005. The Minneapolis-based company currently maintains space in American Express locations in Lower Manhattan and the new location will include executive offices and office space for New York City-based employees currently working in American Express locations. The company expects to move into the building by mid-2006.
"Now that Ameriprise Financial is an independent company, we are retaining our presence in Lower Manhattan by relocating our New York City corporate offices from existing American Express offices to the 7 World Trade Center building," said Jim Cracchiolo, Chairman and Chief Executive Officer of Ameriprise Financial. "This essentially moves us across the street to an outstanding new location."
Simon Wasserberger, First Vice President of CB Richard Ellis, and Cathy Giliberti of Silverstein Properties handled the negotiation of the lease agreement. Ameriprise Financial was represented by Trammell Crow's James Silberfein, Michael Liss and Richard Fahey. The agency leasing team from CB Richard Ellis is led by Mary Ann Tighe, Chief Executive Officer of the firm's New York Tri-State Region, and Stephen B. Siegel, Chairman, Global Brokerage.
"The New York Academy of Sciences' lease at 7 World Trade Center is indicative of the wide range of tenants willing to call Lower Manhattan home," said Mr. Wasserberger. "But make no mistake: Downtown is the financial capital of the world, and Ameriprise Financial's decision underscores the allure of both the area's great business environment and one of New York's premier new addresses."
The new location will accommodate approximately 50 Ameriprise Financial employees and will have no impact on Minneapolis as a headquarters for the company or Ameriprise financial advisor offices in New York City.
About Ameriprise Financial
Ameriprise Financial is one of the nation's leading financial planning, asset management and insurance holding companies. Through its nationwide network of more than 10,000 financial advisors, Ameriprise Financial delivers solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The company specializes in meeting the retirement-related financial needs of the mass affluent. For more information, visit www.ameriprise.com.
Financial advisory services and investments available through Ameriprise Financial Services, Inc., Member FINRA and SIPC.
About Silverstein Properties
Silverstein Properties is a Manhattan-based real estate development and investment firm that has developed, owns and manages more than twenty million square feet of office, residential and retail space.
In July 2001, Silverstein completed the largest real estate transaction in New York history by acquiring the 10 million sq. ft. World Trade Center, only to see it destroyed by terrorist attacks six weeks later on September 11, 2001. Silverstein has committed to the redevelopment of the World Trade Center site. For more information, visit www.wtc.com.
About CB Richard Ellis
CB Richard Ellis (NYSE:CBG), a FORTUNE 1000 company headquartered in Los Angeles, is the world's leading commercial real estate services firm. The company serves real estate owners, investors and occupiers around the world through more than 300 offices (including partners and affiliates) in over 50 countries. CB Richard Ellis delivers to clients superior strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. Founded in 1906, CB Richard Ellis marks a century of excellence in client service this year. Please visit our Web site at www.cbre.com.
About Trammell Crow Company
Founded in 1948, Trammell Crow Company is one of the largest diversified commercial real estate services companies in the world. The company provides building management, brokerage, project management, and development and investment services to both investors in and users of commercial real estate. In addition to its full service offices located throughout the United States, the company has offices in Canada, Europe, Asia and Latin/South America focused on the delivery of real estate services to corporate customers. The company delivers brokerage services outside the United States through strategic alliances with leading providers – in Europe and Asia, through Savills, plc, a leading property services company in the United Kingdom; and in Canada, through JJ Barnicke, a leading Canadian real estate services provider. The company delivers building management, brokerage, and project management services in India through Trammell Crow Meghraj, India's leading property services company jointly owned by the company and certain international partners. Trammell Crow Company is traded on the New York Stock Exchange under the ticker symbol "TCC" and is located on the Internet at www.tramellcrow.com.