Company will relocate from Washington D.C. this summer
Cushman & Wakefield, the world’s largest privately held commercial real estate services firm, today announced that Harman International Industries Inc. signed a lease for 27,000 square feet at 400 Atlantic Street, a 15-story, 483,000-square-foot Class-A office building in Stamford, Conn.
The deal is one of the largest office leases signed in Stamford this year. The transaction is a long-term sublease from International Paper (IP).
Harman, maker of audio and entertainment systems, plans to relocate its headquarters from Washington, D.C. to Stamford this summer. Harman opened a 2,465-square-foot satellite office last year at Two Stamford Plaza on Tresser Boulevard.
Jay S. Hruska, executive vice president of Cushman & Wakefield, represented Harmon in the lease negotiations. 400 Atlantic Street is owned by the Landis Group. IP was represented by Studley and Prudential Commercial.
“We evaluated a number of buildings throughout Fairfield County and 400 Atlantic Street provided many things that Harman required,” said Mr. Hruska. “In addition to being a key corporate headquarters complex in a prime location with great on-site and area amenities, we were able to arrange highly favorable terms for Harmon in order to accommodate their space requirement.”
Harman International had sales of $3.6 billion in its 2007 fiscal year and employs about 10,500 people worldwide. Harman International operates about 40 engineering and manufacturing locations in the U.S, Europe and Asia. Its consumer group makes loudspeakers, CD and DVD players, CD recorders and amplifiers. The Harman auto unit makes audio systems for Toyota, Lexus and General Motors vehicles. Harman's professional unit produces studio monitors, amplifiers, mixing consoles and other equipment for recording studios, cinemas and touring performers.
Cushman & Wakefield is the world's largest privately held commercial real estate services firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com.