The 643,000-sf building has served as Altria's corporate headquarters since it opened in 1982. Under terms of the agreement, Altria plans to close the sale no later than April 1, 2008. Altria said in a prepared statement that it will record a pre-tax gain of approximately $440 million upon closing the transaction. CB Richard Ellis Group Inc. handled the sale for Altria.
Lisa Gonzalez, with Altria, tells GlobeSt.com that for the past seven years, Altria has been decentralizing its operations. As a result, she explained that, as the CEO announced in a conference call Aug. 29, the current 500 employees that Altria's corporate headquarters currently houses, will be greatly reduced. The source noted that the company plans to relocate its headquarters to Richmond, VA in early 2008 and will eliminate approximately 400 employees. Gonzalez could not provide details regarding the Richmond property.
As of Sept. 30, Altria Group, Inc. owned 100% of Philip Morris International Inc., Philip Morris USA Inc. and Philip Morris Capital Corp., and approximately 28.6% of SABMiller plc. Altria Group Inc. recorded 2006 net revenues from continuing operations of $67.1 billion.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
