{"id":1004122617,"date":"2015-07-07T05:57:43","date_gmt":"2015-07-07T13:57:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004122617"},"modified":"2020-05-18T22:09:45","modified_gmt":"2020-05-19T06:09:45","slug":"building-and-land-technology-bullish-on-stamford","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/building-and-land-technology-bullish-on-stamford\/","title":{"rendered":"Building and Land Technology Bullish on Stamford"},"content":{"rendered":"
\"1<\/a>

1 Elmcroft Road, Stamford<\/p><\/div>\n

By Keith Loria, Contributing Editor<\/em><\/p>\n

Building and Land Technology<\/a> has acquired 1 Elmcroft Road, a 550,000-square-foot Class A office complex adjacent to Harbor Point, the transformative mixed-use waterfront development in Stamford, Conn., from Pitney Bowes.<\/p>\n

Designed by noted architecture firm I.M. Pei & Partners, the complex is the former headquarters of Pitney Bowes, which now sits vacant, and will allow BLT to expand the commercial space at Harbor Point.<\/p>\n

\u201cThis is a spectacular opportunity to own and redevelop an outstanding asset that will meet the needs of today\u2019s companies,\u201d Carl Kuehner, BLT\u2019s CEO, said in a company statement. \u201cIn addition to providing a first-class office environment, 1 Elmcroft will enjoy all the benefits of Harbor Point\u2019s dynamic waterfront lifestyle, including our newly-constructed apartments, diverse retail and restaurants, parks, and community events.\u201d<\/p>\n

Harbor Point<\/a> encompasses an entire neighborhood, with a full mile of waterfront, more than 4,000 residential units, and several million square feet of commercial development. Previously, BLT redeveloped the former Pitney Bowes \u201cMain Plant\u201d in the city\u2019s South End into nearly 1,000 new apartments, the noted Waterside School, and Commons Park.<\/p>\n

\u201cWe remain bullish on Stamford and are delighted to make this new investment in the office market here,\u201d Kuehner added. \u201cStamford is a bright spot for the Connecticut economy, and we are proud to have secured long-term commitments from tenants like Deloitte, Starwood, and XL Reinsurance by offering high-quality space, excellent access to transportation, and the lifestyle amenities that help these companies grow and attract top talent.\u201d<\/p>\n

Located at the tip of the South End peninsula, 1 Elmcroft Road offers stunning views of Kosciuszko Park, Stamford Harbor, and Long Island Sound.<\/p>\n

CBRE\u2019s 1Q Fairfield Office Market Report noted that the Stamford CBD and non-CBD submarkets contributed the largest volume of returns to the overall market. Asking rents finished at $35.63 per square foot, a slight increase from $35.30 per square foot seen in the fourth quarter of 2014.<\/p>\n

In the report, Robert Caruso, senior managing director of CBRE, noted with new restaurants and other retail conveniences coming into Stamford, new life is being brought to the market and he\u2019s bullish about the prospects for the rest of 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"

BLT has scooped up the former headquarters of Pitney Bowes.<\/p>\n","protected":false},"author":1269,"featured_media":1004122619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,11,21742,10,21747],"tags":[],"class_list":["post-1004122617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midatlantic","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"\nBuilding and Land Technology Bullish on Stamford - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/building-and-land-technology-bullish-on-stamford\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Building and Land Technology Bullish on Stamford\" \/>\n<meta property=\"og:description\" content=\"BLT has scooped up the former headquarters of Pitney Bowes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/building-and-land-technology-bullish-on-stamford\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-07T13:57:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T06:09:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Stamford.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"732\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/building-and-land-technology-bullish-on-stamford\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/building-and-land-technology-bullish-on-stamford\/\",\"name\":\"Building and Land Technology Bullish on Stamford - 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