In keeping with a growing trend, Artha Capital Management, Inc., an institutional investment manager, has renewed four years early on - and almost doubled - its 3,530 s/f lease at 300 First Stamford Place, one of three buildings comprising W&M Properties' 810,000 s/f complex, according to Jeffrey Newman, executive vice president of W&M Properties, the marketing and management agent for the building.
"We have seen a dramatic increase in leasing expansions and early renewals during the past several months," said Newman. "While there are still leasing opportunities within our Fairfield portfolio, available space is moving fast off the shelf." He added that W&M continues to see a steady influx of quality financial companies, such as Artha Capital, that have recognized the importance to their businesses of securing Class A office space accessible to Stamford's Transportation Center.
In addition to renewing early, Artha Capital, a tenant since May 2005, increased its space by 3,313 s/f for a seven-year term, bumping up its total space on the fourth floor to 6,843 s/f.
Newman and senior leasing associate Kimberly Zaccagnino represented the landlord in the transaction. The tenant represented itself.
First Stamford Place is located at I-95's exit 7, adjacent to the Stamford Transportation Center, which has completed a $95 million enhancement program.
The property is also located within Stamford's Enterprise Zone, a distinction the complex shares with only one other CBD Class A building, W&M's Metro Center.