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Success of South End Office Campus Reflects Ongoing Work/Live/Play Demand
STAMFORD, Conn. (Aug. 3, 2023) – On the heels of an active leasing period resulting in full occupancy at 700 and 850 Canal Street in Stamford, joint venture owners Gottesman Real Estate Partners and Mountain Development Corp. have announced an upcoming, 7,500-square-foot opportunity at 700 Canal. The re-purposed mill building and its sister property comprise a distinctive waterfront office campus located in the heart of Stamford’s vibrant South End district.
According to Gottesman’s Kevin Byrd, vice president, the campus’ work/live/play environment has fueled steady leasing activity over the past 12 months. With the support of exclusive office leasing agent Cushman & Wakefield, property ownership has inked nine transactions totaling more than 48,000 square feet. “These buildings have everything today’s professional end-user demands, from contemporary workspaces and a robust set of amenities to stellar accessibility to all that the South End has to offer,” he said.
Available for occupancy November 1, the loft-style space on the third floor of 700 Canal has large windows, ample natural light and spectacular wrap-around water views. Features include a large conference room, dedicated fitness gym, three private bathrooms (one with a shower) and high-grade finishes throughout. It represents the only foreseeable opportunity at the property for at least another year.
Tenants at both 700 and 850 Canal Street can enjoy breakfast and lunch at The Granola Bar café, a complimentary bike share program and secure onsite bike storage, high-intensity fitness training at MADabolic, and custom golf lessons at Golftec. 700 Canal is also home to flexible workspace provider Serendipity Labs, which offers fully equipped conference, meeting and event spaces on a short-term rental basis.
The buildings share a five-story parking garage and provide easy access to The Village, the high-profile indoor/outdoor waterfront campus at 860 Canal Street. This popular arts and culture destination includes The Wheel, a unique farm-to-table restaurant that is at the center of The Village’s pioneering culinary program, as well as Cisco Brewers’ first Connecticut outpost and a state-of-the-art fitness center.
A Steady Stream of New Leases and Renewals
Recent additions at 700 Canal include Mirador Inc., Tower Bay Asset Management, Intelisearch Inc. and Lessonbee Inc. Renewals have included KSL Capital Partners LP, Maxim Group, US Beverage and The Granola Bar. Mirador committed to additional space at 850 Canal.
“The success of these properties has been remarkable, especially in light of the challenging office real estate market,” said Cushman & Wakefield’s Brian Scruton, who heads the leasing assignment with William Montague of the firm’s Stamford office. “The availability at 700 Canal is an unmatched opportunity for the right tenant to secure space at this highly sought-after address.”
While downtown Stamford is known for its dynamic business environment, the city’s South End has experienced tremendous growth and development that has transformed the former industrial area into a truly walkable, live/work/play neighborhood. New boutique office, retail and dining development has been matched by the addition of residential and mixed-use properties.
Situated less than one mile from Exit 8 on I-95, 700 and 850 Canal Street offer easy access to all points in Fairfield and Westchester counties. Rail commuters can take advantage of private shuttle service to the nearby Metro North train station. LaGuardia, JFK and Westchester airports are less than an hour’s drive away.
Byrd noted, “Our buildings have attracted financial services companies and other professional services firms that recognize the value of this unique product and unmatched location when it comes to recruiting and retaining talent. This has never been more vital than in today’s economic climate.”
Gottesman Real Estate Partners
26 Main St., Suite 103, Chatham, NJ 07928
56 Livingston Ave., Suite 200, Roseland, NJ 07068