STAMFORD, CT – April 17, 2012 – (RealEstateRama) — Private investment firm Merrimac Corp. has renewed its lease at Malkin Properties’ First Stamford Place a year in advance of expiration, announces Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and management agent for the three-building, 810,000-square-foot office complex.
Merrimac, which has been a tenant at 100 First Stamford Place since 2008, will continue to occupy its 2,896-square-foot space on the fourth floor through 2016.
“First Stamford Place is a well-run, first-rate office complex with hands-on management and top-tier amenities,” says Louis Arovas, president of Merrimac. “Its proximity to the Stamford Transportation Center is another major factor in our decision to continue our relationship with Malkin Properties.”
“We’re happy that Merrimac has made an early commitment to remain among our roster of distinguished financial tenants,” says Mr. Newman, who represented the landlord in this transaction, along with senior leasing associate Kimberly Zaccagnino and leasing associate Tara Long. “The firm’s satisfaction reflects our commitment to maintain the highest standards throughout our Trophy portfolio.”
The tenant represented itself in the deal.
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 with daytime and evening classes (Yoga, Pilates, Zumba, Body Sculpting); 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 offering special discount packages for First Stamford Place tenants; 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; Hertz on-site hourly rental cars for First Stamford Place tenants and their visitors; and a t enants-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, and offers special discounts for First Stamford Place tenants for dining, overnight room rates, and executive conference facility fees.
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.
About Malkin Properties
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, CT
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
