CUSHMAN & WAKEFIELD TO MARKET FORMER GEN RE HQ IN STAMFORD
560,000-Sq.-Ft. Property Expected to Draw High Interest from Users, Investors
STAMFORD, CO – July 6, 2011 – (RealEstateRama) — Commercial real estate services firm Cushman & Wakefield, Inc. has been selected to market the former General Reinsurance Corporation headquarters in Stamford for sale. Recognized as the premier office asset in the State of Connecticut, the 560,000-square-foot property is located at 695 East Main Street with frontage and high visibility from I-95.
Andrew Merin, David Bernhaut, Gary Gabriel and Grace Braverman of Cushman & Wakefield’s Metropolitan Area Capital Markets Group, based in East Rutherford, N.J., and Tom O’Leary of the firm’s Stamford office, are heading the assignment on behalf of the seller, Lehman Brothers Holdings Inc.
“This will be our region’s highest-profile office offering in 2011,” Merin noted. “In an urban setting where very few large assets have come online in recent years, 695 East Main Street undoubtedly will draw a great deal of interest.”
O’Leary agreed. “We expect that the property will appeal to both users and investors,” he said. “It is the only opportunity for a large user to acquire its own building in Stamford. It also provides the chance for a national or regional investor to add a true trophy asset to their portfolio.”
Located in the heart of Stamford’s downtown, just six tenths of a mile from the city’s transportation center, 695 East Main Street includes four interconnected, six-story buildings. Designed by renowned architectural firm Kohn, Pederson and Fox, the property features a timeless image and the highest-end finishes, including marble, granite and reflective glass.
The currently vacant building includes an expansive outdoor, grass-covered plaza and accommodations for a full range of amenities, having formerly housed a full-service cafeteria with atrium seating, a sundries shop, fitness center and community conference room. The property includes 1,400 covered parking spaces.
“The availability of this one-of-a-kind property will provide our city with an additional value proposition to attract diverse, growing companies,” said Stamford Mayor Michael Pavia. “We continue to accelerate our efforts to expand Stamford’s very diverse economic base and will add our support to the effort to market this property.
“As a major regional business center, Stamford continues to be home to many major corporate headquarters,” said Pavia. “We are clearly focused on building a better Stamford, and we are confident that the availability of 695 East Main Street will attract considerable interest from companies seeking a prime, highly visible location.”
Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Conn., and Pennsylvania. The team has completed more than $15.2 billion worth of transactions since 2000.
###
Media Contact:
Evelyn Weiss Francisco: evelyn (at) caryl (dot) com, (201) 796-7788, www.twitter.com/carylcomm
