Freepoint Commodities LLC leases 23,160 sf
By Freepoint Commodities LLC leases 23,160 sf
May 19, 2011 - 1:57 PM
Freepoint Commodities, a recently established, private-equity-backed trading company launched by the founders of Sempra Energy Trading (the predecessor to RBS Sempra Commodities and a leading commodity trading firm during the past two decades) has inked a long-term lease within the prestigious Greenwich Office Park in Greenwich, CT. The global physical commodity merchant will occupy 23,160 square feet of Class A office space that will serve as its corporate headquarters.
The CB Richard Ellis team of David Block and Michael Siegel, the exclusive leasing agents for the complex, negotiated the long-term lease on behalf of the asset manager of Greenwich Office Park, ING Clarion Partners. Eric Goldschmidt of Goldschmidt Associates represented Freepoint Commodities.
The CBRE leasing team was able to work closely with Freepoint’s representatives to arrange a very attractive lease for the company, which allows the recently formed firm flexibility to grow its operations within the complex. Greenwich Office Park’s exceptional infrastructure, which is ideal for very high-tech office installations, and full back-up capabilities were also major attractions for the commodities trading company.
According to Mr. Block, “Freepoint’s commitment to the complex further demonstrates Greenwich Office Park’s standing as one of the most prestigious business addresses in Connecticut. The Park provides every amenity a tenant could require and is home to numerous prominent financial services firms. “
Margaret Egan of ING Clarion Partners continued, “We are thrilled to have a tenant of Freepoint’s standing join our ever-expanding roster of high-profile tenants. We look forward to many years of serving its real estate space requirements as the firm grows its global practice.”
Comprised of nine-buildings totaling approximately 425,000 square feet Greenwich Office Park is set on a beautifully landscaped, 23-acre site. The campus-style complex boasts a full service café within walking distance to all nine office buildings; two ponds complete with fountains and picnic tables; 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, abundant parking and upgraded common areas and elevator systems. All nine 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 Country 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’s shopping, dining and entertainment venues.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company for three years in a row. Please visit our Web site at www.cbre.com.
About ING Clarion Partners
Founded in 1982, Clarion Partners manages more than $22 billion in private equity real estate in the Americas across a range of investment strategies. The firm announced last month that it will be acquired from the ING Group by its senior management team in conjunction with the private equity firm, Lightyear Capital. The new company will be known by its former name, Clarion Partners. More information about the firm is available at www.ingclarion.com.
About Freepoint Commodities
Freepoint Commodities is a newly founded energy merchant with over $300 million in equity capital and a strong management team with a proven track record in the commodities market. The company expects to be a top trader and marketer of natural gas and power in North America. The Firm’s strategy is to focus on merchant transactions involving physical commodities, and to provide supply services and risk management products for customers.
The company was founded by David Messer, Frank Gallipoli, and Robert Feilbogen, who all worked together at Sempra Energy Trading in key management roles. Private equity funds managed by Stone Point Capital (http://www.stonepoint.com/), together with Freepoint's management team and employees have provided the initial equity capital for the company. More information about the firm is available at www.freepointcommodities.com
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