STAMFORD, CT – December 12, 2011 – (RealEstateRama) — Jones Lang LaSalle Americas, Inc. (JLL), a financial and professional services firm specializing in real estate services and investment management, has extended its lease and expanded its space at First Stamford Place, Malkin Properties’ Trophy office complex located one block from the Stamford Transportation Center, announces Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and management agent for the three-building, 810,000-square-foot complex.
JLL expanded its second floor offices at 100 First Stamford Place by forty (40%) percent, bringing its total occupancy to nearly 6,400 square feet. The firm also renewed eight months early, extending its lease term through 2017. Malkin Construction will build out the expansion space.
“We have been a tenant at First Stamford Place since 2007, and are very pleased to extend our lease and expand our space as we continue building our presence in the market,” says Bob Ageloff, managing director of JLL, who brokered the deal on his firm’s behalf. “First Stamford Place is a great location for business and integral to our firm’s success and growth.”
JLL has over 40,000 people in 1,000 locations in 70 countries, serving the local, regional and global real estate needs of clients. In response to changing client expectations and market conditions, the firm assembles teams of experts who deliver integrated services built on market insight and foresight, sound research and relevant market knowledge.
“JLL’s renewal and expansion is consistent with the solid performance and growth shown by the majority of domestic and international service businesses who have chosen to locate at First Stamford Place,” says Mr. Newman. “With its convenience to the Stamford Transportation Center, easy access to major highways, and enhanced on-site sevices and amenities package, this Trophy venue affords our tenants and their clients an easy commute from New York City and other suburban areas and a healthy and productive working environment within a self-contained, office campus setting.”
Mr. Newman represented the landlord in this transaction.
First Stamford Place is a three-building, 810,000-square-foot Trophy multi-tenanted office complex, located at I-95’s exit 7 adjacent to the Stamford Inter-Modal Transportation Center.
A recipient of The Office Building of the Year (TOBY) from the Building Owners and Managers Association (BOMA) of Southern Connecticut, First Stamford Place features on-going building-wide enhancements, including recent common corridor and restroom upgrades; in-house concierge service; First Stamford Place Café dining facility and catering service; tenants-only fitness center; tenants-only multimedia conference center; free on-site parking within secured, inter-connected structured garages, with 24/7 card access; Bright Horizons day-care center; an auto “spa” offering basic car wash to full-detail servicing; barber and newsstand/sundry shops; on-site management office; 24/7 on-site security; broad range of telecommunications systems; ATMs; and a tenants-only shuttle van service to and from the Stamford Transportation Center and shopping areas. The newly renovated Hilton Stamford Hotel, a 500-room luxury hotel with the largest banquet facilities in Fairfield County, is located directly adjacent to the property.
First Stamford Place also is located within Stamford’s Enterprise Zone, which provides significant tax benefits to qualified companies. Enterprise Zone tenants may qualify for an 80 percent abatement of real estate and personal property taxes on all leased space and owned/leased machinery and equipment for five years, for a minimum annual savings of $4.00 per square foot, as well as for a 25 percent credit against State of Connecticut corporate income taxes for 10 years.
Malkin Properties is the real estate management, marketing and acquisition arm of the Malkin family, which has commercial, retail and residential operations in 15 states. The company’s portfolio of suburban Trophy office buildings totals 1.85 million square feet of prime space in Westchester County, NY and in Fairfield County, Conn.
In addition to First Stamford Place, other Malkin Trophy properties in Fairfield County are: Metro Center, a 280,000-square-foot property, located within Stamford’s Enterprise Zone, at the Stamford Transportation Center; and MerrittView, a 255,000-square-foot office building located at the Merritt Parkway’s exit 40 in Norwalk. In neighboring Westchester County, Malkin Trophy properties are: Ten Bank Street, a 225,000-square-foot, 12-story office building located in White Plains, one block from the White Plains Transportation Center; and 500 Mamaroneck Avenue, a five-story, 285,000-square-foot multi-tenant office building located between the Hutchinson River Parkway and I-95 in Harrison.
Malkin Properties provides full turn-key deal-making and management services, including marketing, lease negotiations, design, construction, management and cleaning services, all performed in-house. The firm is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste recycling and indoor environmental quality initiatives. Recently, 500 Mamaroneck Avenue, Ten Bank Street, Metro Center and MerrittView earned the nationally recognized Energy Star designation from the U.S. Environmental Protection Agency (EPA); the balance of the Malkin Properties suburban Trophy portfolio is undergoing Energy Star review.
Broker commissions are paid in full upon lease signing.
FROM: Malkin Properties Metro Center, One Station Place
Stamford, CT 06902
Website: malkinproperties.com
CONTACT: LVM Group Inc.
Mike Odenthal, (212) 499-6571, Mike (at) lvmgroup (dot) com
