Expensive, but still cheaper than Manhattan!
Antares Investment Partners purchased 305,000 square feet of office space in Stamford, CT, for $86.8 million, or approximately $284 per square foot. The property portfolio, which was bought from Seaboard Properties, will benefit from corporations seeking lower-than-Manhattan rents. (Stamford is around 40 miles from Manhattan and is known for its wealth, convenience, and proximity to New York.) Antares, which is based in Greenwich, CT, is also embarking on a $3 billion, 82-acre waterfront redevelopment project in Stamford.
Sources: CNN Money, Commercial Property News, Antares Investment Partners
Labels: Antares, connecticut, Site Selection, Stamford
2 Comments
Great blog!
By
Nancy on July 30, 2007 11:31 AM
The exodus of corporations from New York City continues and it is keeping the tri state suburban commercial real estate market hot despite the slowdown in the residential market.
By
Ted on July 30, 2007 11:56 AM
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