{"id":1004709030,"date":"2024-04-04T04:42:20","date_gmt":"2024-04-04T12:42:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004709030"},"modified":"2024-04-05T05:31:10","modified_gmt":"2024-04-05T13:31:10","slug":"shelbourne-lands-coworking-lease-expansion-in-connecticut","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/shelbourne-lands-coworking-lease-expansion-in-connecticut\/","title":{"rendered":"Shelbourne Lands Coworking Lease Expansion in Connecticut"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0def1ee2904&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004709031\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/shelbourne-lands-coworking-lease-expansion-in-connecticut\/777-west-putnam\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg\" data-orig-size=\"1766,1326\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"777 West Putnam\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;777 W. Putnam Ave. recently underwent a capital improvement program. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg?w=300\" alt=\"777 West Putnam\" class=\"wp-image-1004709031\" style=\"width:318px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg 1766w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg?resize=1024,769 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/777-West-Putnam-e1712217897891.jpeg?resize=1536,1153 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The building at 777 W. Putnam Ave. recently underwent a capital improvement program. <em>Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Flexible office provider Stark Office Suites has extended and expanded its lease to 23,538 square feet of <a href=\"https:\/\/www.commercialsearch.com\/coworking-space\/us\/ct\/greenwich\/\">coworking space in Greenwich, Conn<\/a>. The tenant grew its footprint in the building at 777 W. Putnam Ave. by 5,722 square feet. Newmark represented the landlord, Shelbourne Global Solutions.<\/p>\n\n\n\n<p>Shelbourne acquired the 134,000-square-foot asset in 2022 from Fifth Street Asset Management for $48.5 million, according to CommercialEdge data. In 2023, the property became subject to a $23.5 million loan from Digital Federal Credit Union, the same source shows.<\/p>\n\n\n\n<p>Completed in 1976, the office building underwent a cosmetic renovation in 2011. It rises three stories and features 44,000-square-foot floorplates. Recently, Shelbourne completed another extensive capital improvement program at the property. Amenities include a caf\u00e9, outdoor patio and on-site management. Other tenants are Marc Fisher Footwear and The Richman Group.<\/p>\n\n\n\n<p>Located off Highway 1, the property is on the border between New York State and Connecticut and roughly 34 miles north of New York City. It is also some 6 miles from the Westchester County Airport and less than 3 miles from the Greenwich Hospital.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-an-expansive-national-cre-portfolio\">An expansive national CRE portfolio<\/h2>\n\n\n\n<p>Newmark Executive Vice President &amp; Managing Director James Ritman, along with Managing Director Benjamin Goldstein, represented the landlord in the transaction.<\/p>\n\n\n\n<p>New York-based real estate company Shelbourne Global Solutions owns and manages more than 8 million square feet of commercial real estate across various asset types, totaling a $1 billion national portfolio. Recently, the firm <a href=\"https:\/\/www.commercialsearch.com\/news\/m-m-properties-sells-1-2-msf-office-building-in-dallas\/\">acquired Plaza of The Americas<\/a>, a 1.2 million-square-foot office property in downtown Dallas. Newmark was also involved in this transaction, representing the seller.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A flex space provider is growing its footprint in this upscale New York City suburb.<\/p>\n","protected":false},"author":3120,"featured_media":1004709031,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,52118,21742,10,21747],"tags":[38302,50999,33634],"class_list":["post-1004709030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-coworking","category-latest","category-northeast","category-office","tag-digital-federal-credit-union","tag-newmark","tag-shelbourne-global-solutions"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shelbourne Lands Coworking Lease Expansion in Connecticut - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Flexible office provider Stark Office Suites has extended and expanded its lease at 777 W. 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