Citi Signs Agreement to Purchase 580 CrossPoint Parkway from Uniland
October 16 2019 - 2:45PM
Business Wire
Transaction Affirms Citi’s Commitment to
Western New York
Citi has signed a purchase and sale agreement for 580 CrossPoint
Parkway in the CrossPoint Business Park and approximately nine
acres of adjacent land from owner Uniland Development Company. This
building purchase is a part of Citi’s Amherst office complex, and
demonstrates Citi’s long-term commitment to remain in Western New
York. With this transaction, Citi will own the 158,000 square foot
building located at 580 CrossPoint Parkway and will extend its
lease with Uniland on the conjoined 107,000 square foot building
located at 540 CrossPoint Parkway. Currently, the facility houses
1,800 employees and includes a full service cafeteria, fitness
center, free parking, video and training rooms and loading
docks.
“Citi’s continued commitment and investment in Western New York
is creating great job opportunities for local residents and
strengthening our regional economy,” said New York Lieutenant
Governor Kathy Hochul. “The expansion of Citi's footprint in
Amherst is a recognition of our incredible local workforce and
business-friendly environment that is drawing in companies from
around the world. I thank Citi for their investment and look
forward to their long-term presence and continued growth."
“Locally, we are excited about this purchase as it demonstrates
Citi’s commitment to a long-term presence in Western New York and
opens the door for future growth,” said Anthony Vazquez, Buffalo
Site President, Citi. “Citi has been in the Buffalo area since
1976 when it opened its first office with just 10 people near the
Buffalo Niagara Airport. Since then, the Buffalo office has grown
to be a major player in our global operations with over 1,800 local
employees. This purchase cements our continued desire to be one of
the largest private-sector employers in Western New York.”
"Investing in our region is extremely important and this
long-term investment that Citi is making is exciting for the
community. I look forward to see this development progress,” said
New York State Senator Mike Ranzenhofer.
Erie County Executive Mark C. Poloncarz said, “I am
pleased Citi is committed to remaining in our region for many years
to come. This announcement is just another example of the ongoing
growth and continued economic development of Erie County. The
company has had a presence in our region for over four decades and
the future is bright for further growth, hopefully in the form of
newly created jobs that can become careers for Erie County
residents.”
Uniland created CrossPoint Business Park in Amherst so companies
like Citi can have an excellent location in which to grow. “Uniland
is invested in sustainable relationships with our clients be they
for sales, leasing, construction or property management. Citi will
continue to be a long-time client at CrossPoint and we look forward
to Citi’s continued growth in Western New York,” said Michael
Montante, Uniland vice president.
The transaction is expected to close in November 2019.
About Citi: Citi, the leading global bank, has
approximately 200 million customer accounts and does business in
more than 160 countries and jurisdictions. Citi provides consumers,
corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and
credit, corporate and investment banking, securities brokerage,
transaction services, and wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20191016005838/en/
Media: Nina Das 212.816.9267
nina.das@citi.com
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