Former Gen Re HQ in Stamford Generating Considerable Interest
8 Aug, 2011, Stamford
The former General Reinsurance Corporation headquarters at 695 East Main Street in Stamford, currently being marketed by Cushman & Wakefield's Metropolitan Area Capital Markets Group (CMG), has generated considerable interest since the offering was announced recently. Recognized as the premier office asset in Connecticut, the 560,000-square-foot property offers frontage and high visibility from I-95.
"This will be the Tri-State region's highest-profile office offering this year," said Andrew Merin, who is teaming with David Bernhaut, Gary Gabriel and Grace Braverman of Cushman & Wakefield's East Rutherford, N.J. office and Tom O'Leary of the firm's Stamford office on the assignment on behalf of seller Lehman Brothers Holdings Inc.
"In an urban setting where very few large assets have come on the market in recent years, 695 East Main Street has already generated more than 100 signed confidentiality agreements and 20 property tours," Merin said.
"This offering is clearly appealing to both users and investors in a rebounding market that currently has a limited number of properties available," said O'Leary. "It is the only opportunity for a large user to acquire its own building in Stamford, while also providing the chance for a major investor to add a true trophy asset to their portfolio."
Located in the heart of Stamford's downtown near the city's transportation center, 695 East Main Street includes four interconnected, six-story buildings. Designed by renowned architectural firm Kohn, Pederson and Fox, the property features a timeless image and highest-end finishes, including marble, granite and reflective glass. Currently vacant, the building also includes an outdoor plaza, a full-service cafeteria with atrium seating, fitness center, community conference room and 1,400 covered parking spaces.
Cushman & Wakefield's Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Conn., and Pennsylvania. The team has completed more than $15.2 billion worth of transactions since 2000.