It is not yet known how much, if any, space could become available due to the move. CB Richard Ellis exclusively handles Phillip Morris space at other sites in New York, and knows of no space availability at 120 Park. A spokesperson for Phillip Morris referred all questions to the company's original statement on its relocation decision.

Philip Morris execs estimate the relocation will result in annual savings in excess of $60 million and that the total cost of the relocation will be approximately $120 million, including compensation to those employees who do not relocate.

With its relocation to Richmond, Philip Morris is coming full circle, so to speak, by returning to a spot just outside of Richmond, the locale of the company's 1919 incorporation. Already the cigarette manufacturer has 6,800 employees in the area at various locations.