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News : Real Estate Feb 9, 2012 - 1:26 PM

Private Real Estate investment manager relocates to First Stamford Place

By Malkin Properties

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STAMFORD, CT - Barrow Street Capital LLC will relocate its headquarters office to First Stamford Place from nearby Metro Center, reports Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and management agent for both buildings, which are adjacent to the Stamford Transportation Center.

Barrow Street Capital, a real estate investment management firm that targets opportunities on the East and West Coasts of the United States and in selected destination resorts, will take occupancy of a 2,579-square-foot space on the third floor of 300 First Stamford Place.

“We have been extremely happy with Malkin Properties’ hands-on tenant management during our tenure at Metro Center, and therefore we are very pleased to remain within the portfolio and still enjoy the benefits of this convenient location, combined with top-tier amenities,” explains Robert F. Greenhill, co-CEO of Barrow Street.

Barrow Street Capital LLC was founded in 1997. The firm’s principals each have an average of 18 years of real estate industry and investing experience, having participated in the investment, financing, management, and/or disposition of real estate assets and real estate operating companies valued at more than $40 billion over the past 30 years.

“First Stamford Place has a well-earned reputation as a venue where investment firms like Barrow Street can flourish,” says Mr. Newman. “The office park’s convenient location provides direct access to highways and mass transportation, and its top quality services and broad range of amenities make it ideal for blue chip businesses.”

Mr. Newman represented the landlord in this transaction along with senior leasing associate Kim Zaccagnino and leasing associate Tara Long. The tenant was represented by Nat Barnum of New England Land Company, Ltd.

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; 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; 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; and a tenants-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.

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, 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.

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