Andersen Plans Move to Times Square

PRESS RELEASE

What will the New York Times, MTV, and global professional services firm, Andersen, have in common? In 2004, they will all be neighbors in Times Square.

Last week, Andersen officials, along with New York Governor Pataki and representatives of Boston Properties, officially broke ground for what will become the firm's new home in New York – Times Square Tower. What better way for Andersen to show its commitment to excelling in today's fast-paced business environment than to set up shop in the most exciting, dynamic spot in the world?

The move will come on the heels of rapid growth for the firm and helps consolidate its New York-based operations, which had expanded into multiple locations because of Andersen's growth in New York. The new location is within walking distance from Grand Central Station, the Port Authority, and Penn Station and will be more centrally located for employees, clients, and other visitors commuting from outside of Manhattan.

"After 80 years in New York City, Andersen has come full circle. In 1921 our firm moved into space on 42nd Street, just a stone's throw from the site of Times Square Tower. We had five rooms that occupied 733 square feet. New York City and Andersen have been together ever since. Today, as we break ground on our new home in Times Square, we're proud to have contributed to the continuing and exhilarating growth of the City of New York. Here, in the center of the business and entertainment world, we will be right at home," said Louis P. Salvatore, Managing Partner of Andersen's Metro New York office.

While Andersen's New York presence has grown exponentially over the past 80 years, the firm retains important connections to its more modest beginnings. Several important client relationships remain from the office's early years, including Colgate Palmolive, Brooklyn Union Gas (now Keyspan), and ITT Corp. (now ITT Industries).

The firm will be the signature tenant of the new Times Square Tower, occupying over 600,000 square feet. The new offices will be equipped with the latest in networking and wiring technology to help increase productivity and efficiency. Other highlights include a state-of-the-art training center, cafeteria, full-floor conference center, and other convenience amenities that will provide an opportunity for the more than 3,000 employees who will occupy the space to interact and collaborate while providing an enhanced quality of work life.

"The new facility will provide the optimal environment to enable our employees to provide the highest level of client service as well as support their personal needs. By incorporating the best practices in both workplace design and service delivery, the new Andersen offices will be the model environment for professional services firms of the future," Mr. Salvatore explained.

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