Newmark Grubb Knight Frank, exclusive leasing agent for One Dock Street, in Stamford, Connecticut, has come close to filling the 86,000-square-foot building with tenants in less than a year. Brian Carcaterra, a firm principal, said only 4,000 square feet remains available in the building.
“Stamford’s South End is an exciting neighborhood that is in high demand, as a dramatic redevelopment continues,” says Carcaterra. The firm landed the assignment for ClearRock Properties and Meritage Properties last June 1 when they assumed ownership in a joint venture.
“Accessibility to the train is one of many factors to be in that part of the city,” says Carcaterra, who has also recently found tenants for several other building owners in the resurgent neighborhood. “It has become very strategic for office users to be in that market.”
Carcaterra said prices per-square-foot are averaging in the mid-$30s, significantly below traditional Class A office space in Stamford. “Creative users can secure unique, well-designed space in what is becoming a vital area in all aspects, including residential and retail.”
At One Dock Street, a converted 19th Century mill building, long-term leases were recently completed or renewed with:
- Stanwich Advisors, expanding to 11,600 square feet from 3,500 square feet.
- Corporate Planning Group, renewal, for 10,282 square feet.
- New China Management, renewal, for 4,337 square feet. CBRE represented the tenant.
- Reach Prep, for 2,758 square feet. NGKF Managing Principal John Goodkind represented the tenant in this relocation within Stamford.
- Capital Prospects, renewal, for 1,916 square feet.
Carcaterra, Managing Director James Ritman and Director Jenny Prottas comprise the agency leasing team here.
Newmark Grubb Knight Frank also signed two tenants to leases at Malkin Properties’ 300 First Stamford Place:
- Regeneration Partners, for 4,136 square feet. Carcaterra and Ritman represented the tenant in its relocation from Harrison, N.Y.
- TrexQuant Management, LLC, for 3,122 square feet. Carcaterra and Managing Director Paul Gojkovich represented the tenant.
In addition, Carcaterra said that Versus, Inc., has renewed a lease of 43,266 square feet. Newmark Grubb Knight Frank’s Hilarie Siles and John Goodkind represented ownership, while Mike Norris of Cassidy Turley represented the tenant in this transaction.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank and its London-based partner Knight Frank together operate from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.