Connecticut Waterfront Campus Woos NYC Tenant

A digital investment company is moving its headquarters to a market where local office demand is surging.

Shippan Landing at Stamford Harbor in Stamford, Conn. Image courtesy of Photo courtesy of Rubenstein Partners LLP.

A joint venture of Rubenstein Partners L.P. and George Comfort & Sons Inc. has executed a new 12-year lease with Digital Currency Group for more than 90,000 square feet at Shippan Landing, an office complex at Stamford Harbor in Stamford, Conn., the JV announced Monday.

Digital Currency Group invests in bitcoin and blockchain technology companies and will occupy the entire 4th and 5th floors at the five-story, Class A 290 Harbor Drive. The company will occupy this space in late 2022, relocating its headquarters from 250 Park Ave. South in Manhattan.

The 17-acre Shippan Landing is owned by a joint venture of a Rubenstein affiliate and George Comfort & Sons and consists of six Class A office buildings on the Stamford Harbor waterfront and Long Island Sound. The buildings have recently been upgraded with new lobbies, elevator systems and cabs, and HVAC systems.

The recent renovations at Shippan Landing include Harbor Terrace, a new amenity building featuring a café with outdoor seating and a fitness center/yoga studio, and Harbor Green, an outdoor courtyard with walking paths and seating areas.

Other amenities include a beer garden, private terraces and patios, sports courts, and waterfront common seating and lounge areas. A private shuttle service connects Shippan Landing tenants to the Stamford Metro-North station.

Companies with offices at the campus include clothing retailer Vineyard Vines, sports and entertainment agency Octagon, and co-working provider Workpoint.

Digital Currency Group was represented on the lease by Michael Mathias of Savills. Ownership was represented in-house by Peter Duncan, president and CEO of George Comfort & Sons, and Dana Pike, as well as by Cushman & Wakefield’s Trip Hoffman, Mike Norris and Adam Klimek.

High vacancies and rents

The Fairfield, Conn., office market is seeing a surge in leasing demand this year, with 1.3 million square feet of new transactions since January, and Greenwich and Stamford are leading that, according to a third-quarter report from Cushman & Wakefield.

Year-over-year, average asking rents in every Fairfield County submarket have increased, to an average of $33.91 per square foot. This is despite high overall vacancies. The overall vacancy in Stamford is 36.7 percent on an inventory of 15.9 million square feet, also per Cushman & Wakefield.

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