- Citi (C +1.5%) says it's moving about 1,100 of its employees from One Court Square (NYSE:SQ) in Long Island City during H1 2019 to make room for Amazon (AMZN +0.3%) to establish its HQ2 in New York.
- The building's owner, Savanna, confirms that Amazon has entered an LOI to lease about 1M square feet of office space in One Court Square.
- Citi currently occupies about 1M square feet in the building and is accelerating plans to consolidate its workforce at its Tribeca headquarters in Manhattan and other locations.
- About 3,000 Citi colleagues currently work in the building.
- "We have committed to vacate certain floors at One Court Square early and move about 1,100 of the colleagues who presently work there to alternate locations, including in Long Island City and our Tribeca headquarters,' says CEO Michael Corbat.
- Savanna is a real estate asset and management firm; JLL (JLL -0.1%) is listed on the One Court Square brochure as broker.
- Now read: Jones Lang Lasalle Inc. 2018 Q3 - Results - Earnings Call Slides
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