Transaction Affirms Citi’s Commitment to Western New York
AMHERST, N.Y.--(BUSINESS WIRE)--Oct. 16, 2019--
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.
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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