Clarion Partners, a leading real estate investment manager, and CBRE Group today announced year-end leasing results and other milestones for Greenwich Office Park.
Set on 21 wooded acres in Greenwich, CT and encompassing eight buildings and 380,000 square feet of space, Greenwich Office Park experienced in excess of 107,000 square feet of leasing activity in 17 separate transactions over the course of 2015 including existing and new tenants.
The first half of 2015 saw leases for over 49,000 square feet at Greenwich Office Park for tenants including Starwood Capital Group, RiskMatch, CareNext, Ropart Asset Management and Cross River Advisors. Leasing activity remained brisk in the second half of the year and Clarion and CBRE are pleased to announce over 57,000 square feet of additional leasing during this period, including the following new tenants:
A global firm specializing in mergers, acquisitions and operations, represented by Rick Rakow of Rakow Commercial Realty Group, leased 10,731 square feet in Building 1.
CBRE’s Tom Pajolek represented Good Hill Partners LP in a 6,755 square foot lease that will see the private investment firm relocate from Westport, CT to Building 1.
Inovestor USA Inc. leased 1,320 square feet in an expansion and relocation from Stark Office Suites (located at Greenwich Office Park).
Newmark Grubb Knight Frank’s Stephen Banker represented Stanwich Energy Advisors in a 2,583 square foot lease in Building 9.
Performance Equity Management LLC, leased 12,988 square feet in Building 5. The firm, represented by Jay Hruska at Cushman & Wakefield, will relocate from within the Greenwich CBD.
Also notable during the course of the year were several other developments at Greenwich Office Park, including Building 1 receiving certification from the U.S. Green Building Council for LEED Core & Shell Standard and the Building 7—at 599 West Putnam Avenue—sale to Catterton Partners.
“It was a very exciting year at Greenwich Office Park, with a host of leases and other developments all confirming the property is a best-in-class asset,” said Margaret L. Egan, Senior Vice President, Asset Management with Clarion Partners. “Recent improvements to Greenwich Office Park—which include modernizations to the infrastructure and exterior and interior common areas—have attracted new tenants while convincing existing ones to extend and expand their lease commitments.”
Commented David Block, senior vice president of CBRE: “The leasing success we’ve seen over the course of 2015 at Greenwich Office Park is a testament to the improvements made there. These include four new pre-built units, all with high-end finishes, and offering other tenants turn-key options as well.”
An extensive multi-million parkwide capital program was implemented to upgrade the infrastructure, common areas and amenities at Greenwich Office Park. Improvements to the Park include: the full-scale renovation of the façade and infrastructure of Building 1 to a LEED core and shell standard; fully renovated lobbies and common corridors; new restrooms; refreshed café and fitness center; the addition of a new conference room amenity; extensive landscaping and outdoor seating improvements; updated interior and exterior signage; and extensive infrastructure improvements including HVAC and roof replacements and elevator cab and control upgrades.
Currently, Greenwich Office Park offers tenants unparalleled office space ranging from 1,500 to 12,000 square feet. The Park is set on a beautifully landscaped, campus-style, 21-acre site boasting a full service café within walking distance to all eight office buildings; two ponds complete with fountains and outdoor seating; a private fitness center; direct shuttle service to the Greenwich train station; and on-site management. Additional amenities include dry cleaning; shoe shine and repair; mail delivery and pick up at each tenant’s suite; car wash; and detailing service. Building features include operable windows; individually controlled heating and cooling units; and abundant, partially structured parking. All eight buildings allow for tenants’ ability to expand and contract within the Park.
Greenwich Office Park is situated just minutes from all major highways and the Metro North commuter train line. The Property also offers easy access to the Westchester County Airport (10 minutes) and is less than one hour from the region’s major airport hubs including JFK, LaGuardia and Newark. In addition to its excellent location for businesses, employees can take advantage of the complex’s proximity to all of Downtown Greenwich’s shopping, dining and entertainment venues.
