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Newmark Knight Frank Announces Four Office Leases in Stamford and Greenwich, CT

New York, NY (05/09/2019)

10:00 AM

Global commercial real estate advisory firm Newmark Knight Frank (NKF) is pleased to announce it has completed four leases at 115 East Putnam Avenue and 600 Summer Street in Greenwich and Stamford, respectively. NKF's Managing Director Christian Bangert, Director Sam Chambers and Executive Managing Director Cory Gubner represented the landlords for both properties, covering 136,320 square feet of space across the two buildings.

The NKF team represented local landlord, Putnam Properties in the leasing of its 35,000 square-foot building at 115 East Putnam Avenue in Greenwich, CT to new tenants SunEnergy1 and CSP Partners. The boutique brick building is located just three blocks east of the top of Greenwich Avenue and offers professional offices as well as ground floor retail space.

  • SunEnergy1, based in Mooresville, NC and known for creating affordable, low-risk solar power, will be opening a 5,120 square-foot new office at 115 East Putnam Avenue.
  • CSP Partners, together with three associates, leased a total of 5,000 square feet of office space. With these new leases, the building is now fully occupied.

NKF also represented owner New England Investment Partners as the exclusive leasing agent for 600 Summer Street in Stamford, CT a 101,320 square-foot office building, securing transactions with tenants ASL Capital Market and Job Target, LLC. The office building recently underwent a multi-million-dollar renovation including new windows, a new HVAC and building management system and upgrades to elevator lobbies and bathrooms.

  • Financial services firm ASL Capital Market expanded and extended its lease at 600 Summer Street, from their existing 3,000 square-foot space into a larger space totaling 5,104 square feet.
  • National job recruitment company JobTarget, LLC also grew its operations and expanded its office space within 600 Summer Street by an additional 3,350 square feet to occupy a total of 9,818 square feet.

"We are pleased to have supported our clients in Stamford and Greenwich in securing leases for their office space with strong tenants whose businesses continue to grow and expand," said Bangert. "Both buildings provide quality, professional office space with top notch ownership. The locations offer the convenience of downtown amenities as well as easy transportation access."

In December 2018, the team including Gubner, Bangert and Chambers transitioned from boutique real estate firm RHYS Commercial, which Gubner had founded, to join NKF. The team recently brokered the sale of 600 Summer Street to New England Investment Partners for $18.25 million and was retained as the exclusive leasing agents for the property. With the completion of the two new leases, the property's vacancy rate is now at five percent, with only two spaces totaling 5,177 square feet remaining available for lease.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.

Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group's Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.