Four Leases Signed at Holly Pond Plaza in Stamford
STAMFORD, Conn. – July 25, 2013 – Faros Properties, LLC, a New York- and Boston-based real estate investment firm, announces the signing of four leases, at its Holly Pond Plaza property. The recently renovated and upgraded office building, with a total of 70,000 SF+, is located at 1281 East Main Street in Stamford.
The following leases were signed in recent months:
- Argus Investors’ Counsel, Inc., an existing tenant, negotiated directly with Faros and its Cushman Wakefield leasing team to relocate within the building and extend its lease.
- The Atlantic Group, professional search consultants, relocated to Holly Pond Plaza from 400 Atlantic Street, another location in Stamford.
- The public relations and special events firm Blumenfeld and Associates, Inc., became a direct tenant after leasing as a subtenant through Argus Investors’ Counsel
- Shopping center owner and manager AmCap Incorporated extended its lease, expanding upon its existing footprint of 5,000 square feet. AmCap has been a tenant in the building since 1988.
“The significant upgrades at Holly Pond Plaza make this property highly attractive to both existing and new tenants,” said Alexander Leventhal, Managing Partner, Faros Properties.
Cushman & Wakefield’s Adam Klimek and William Montague serve as the exclusive agents representing the landlord. The property owner and leasing team are leading an aggressive leasing and marketing initiative, which has resulted in the execution of the aforementioned leases, with several additional deals pending completion.
Under the current environment, leasing activity at Holly Pond Plaza has exceeded our expectations,” said Montague, Cushman Wakefield, Associate Director. “Our success has been made possible by the owners’ efforts to differentiate their building with the recent capital improvements, a shuttle service to and from the Stamford train station and highly attractive economic incentives for new and existing tenants.”
Currently, two full floors, each with 18,265 square feet, are available for lease. A rooftop deck, monument signage and/or building naming rights all are negotiable for a large enough tenant. The reflective glass and brick office building wаѕ constructed іn 1981. Located within the Stamford non-CBD submarket on East Main Street, the location offers easy access to I-95 and water views of the Long Island Sound on the shores of Holly Pond. The first three levels of the building are reserved to indoor parking, and the four upper floors are dedicated to office space.
Faros also last year purchased 555 Theodore Fremd Avenue in Rye, NY, which was also recently repositioned. The investment team continues to seek additional direct and venture investment opportunities in the New York and Boston areas, as they expand the portfolio, primarily seeking distressed opportunities created from the economic downturn.
About Faros Properties, LLC
Faros Properties is a New York City based real estate investment firm established by Alexander Leventhal, Jeremy Leventhal and Elliot Gould as a platform to target long-term private investment opportunities. Faros primarily targets core investments in supply-constrained markets with high concentrations of intellectual capital. Faros and its predecessor companies trace their roots to family-owned operations. The family has for over six decades been actively involved in the construction, development, acquisition, management, and financing of over 50 million square feet of real estate internationally.
About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.