CBRE aids Wachovia expansion.

Wachovia Corporation (NYSE:WB), one of the country's leading financial services institutions, has appointed CB Richard Ellis' New York Tri-State Region Retail Services Group as its exclusive agent to oversee its expansion in the Fairfield County, Connecticut marketplace. Michael Stone from CBRE's New York headquarters will work closely with Paul King of the firm's Connecticut operations to direct the bank's roll-out campaign.

"We are in the midst of an extremely successful leasing campaign on behalf of the bank in New Jersey. This progressed into the opportunity to offer Wachovia our outstanding brokerage capabilities in the Connecticut market," said Mr. Stone. "We are very pleased to be expanding our relationship with a client of Wachovia's caliber."

Mr. King added, "We look forward to applying our knowledge of the Fairfield County marketplace to assist Wachovia in substantially increasing its presence in the area and better serve southwestern Connecticut's consumers."

Over the past year, CBRE has represented Wachovia as an exclusive leasing agent in Hudson and Essex Counties, New Jersey.

Most recently, the firm arranged two one-acre ground leases for the bank in Jersey City and Hoboken, respectively.

Wachovia plans to build free-standing branches with drive-thru at each location. In Connecticut, Wachovia's initial plans call for nine new branches throughout Fairfield County.