Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s Institutional Properties represented SL Green and TH Real Estate in the sale of Stamford Towers in Stamford, CT for $97,000,000. CBRE Global Investors purchased the Property.
Stamford Towers is comprised of two adjacent premier Class A office assets located in the heart of Stamford’s CBD, and one short block from the Stamford Transportation Center, providing service to Grand Central Terminal in 50± minutes as well as Amtrak service to destinations throughout the Northeast. The Property is also within close proximity of the 722,000 square-foot Stamford Town Center Mall (anchored by Macy’s, Barnes & Noble, H&M, and Saks Off 5th) as well as dozens of restaurants and retails options.
The Property is currently leased to institutional and high credit tenants, including Citigroup, UBS Financial Services, H/2 Credit Manager, Titan Advisors, Gerald Metals, Bank of Ireland, Oaktree Capital, Oppenheimer, CoreCommodity and Newmark, among others. In addition, Stamford Towers benefits from recent capital improvements, including the addition of a fitness center and basketball court, conference facility and new glass entranceways.
Mr. Dunne commented: “Stamford Towers represents the most recent example we’ve seen of strong demand in the market for high quality suburban properties. We expect CBRE Global Investors will fare well with the acquisition due to Stamford Towers’ credit rent roll and strong position in the market.”
About CBRE Group, Inc.
CBRE 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 and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.