Stamford, CT Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s Institutional Properties represented SL Green and TH Real Estate in the sale of Stamford Towers for $97 million. CBRE Global Investors purchased the property.
Stamford Towers is comprised of two adjacent class A office assets located in the city’s CBD, and one block from the Stamford Transportation Center, providing service to Grand Central Terminal in 50 minutes, as well as Amtrak service to destinations throughout the Northeast. The property is also close to the 722,000 s/f Stamford Town Center Mall, as well as restaurants and retails options.
The property is currently leased to institutional and high credit tenants, including Citigroup, UBS Financial Services, H/2 Credit Manager, Titan Advisors, Gerald Metals, Bank of Ireland, Oaktree Capital, Oppenheimer, CoreCommodity and Newmark, among others. In addition, Stamford Towers benefits from recent capital improvements, including the addition of a fitness center and basketball court, conference facility and new glass entranceways.
Dunne said, “Stamford Towers represents the most recent example we’ve seen of strong demand in the market for high quality suburban properties. We expect CBRE Global Investors will fare well with the acquisition due to Stamford Towers’ credit rent roll and strong position in the market.”