Monday, January 07, 2008

GE Energy Signs Long Term Lease for New HQ in Stamford

The Advocate - January 5, 2008

GE Energy Financial Services plans to move into the 275,000-square-foot former Xerox Corp. headquarters at 800 Long Ridge Road in Stamford about a year from now, the building's owner said yesterday.

Norwalk-based Building & Land Technology said GE Energy Financial Services will begin its 15-year lease in January 2009, when renovations are scheduled to be completed.

GE Energy Financial Services, the growing energy investment arm of Fairfield-based General Electric Co., will remain at 120 Long Ridge Road in Stamford for another year, Building & Land said.

The landlord and developer also owns the 300,000-square-foot office complex on 60 acres at 120 Long Ridge Road that formerly housed GE Commercial Finance, the parent unit of Energy Financial Services.

In October, Xerox relocated its headquarters and 330 employees from Stamford to a Building & Land-owned office structure at 45 Glover Ave. in Norwalk. Xerox, the world's largest copier company, had been in Stamford for 38 years. The company moved to Norwalk because it no longer needed a building of the size it had in Stamford, where it used to employ about 600 people.

An affiliate company of Building & Land Technology bought the Xerox property a year ago for $54.8 million. Sphere: Related Content

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