STAMFORD, Conn. -- CBRE Group’s Westchester/Fairfield office announced the completion of a multimillion-dollar capital improvement campaign at 700 Canal St., a 90,000-square-foot historic office building located along the waterfront in Stamford’s South End.
CBRE made the announcement after working on the building’s redevelopment with owners ClearRock Properties, building architect MKDA and property manager Albert B. Ashforth.
The improvements are substantial at 700 Canal, which was acquired as part of a 270,000-square-foot, four-building portfolio that included 850, 860 and 880 Canal St As part of the improvements, upgrades were made to the building’s corridors, bathrooms, elevators, security, mechanical systems, exterior, outdoor patio, landscaping, parking areas, as well as the state-of-the-art glass lobby.
Leasing activity has continued to be brisk throughout the process, with only 23,000 square feet of office space remaining available for immediate occupancy. Available units range from 1,000 square feet to 10,000 square feet.
“We’re confident that, with these improvements, 700 Canal has become the most desired business address in this area,” said CBRE Senior Vice President Brian Carcaterra, who along with Vice President Michael McCall handles the marketing for the property. “With its mix of historic charm and, now, upgraded interior and exterior, this building will continue to attract prominent tenants. Its waterfront location in the bustling South End, adjacent to the Harbor Point amenities, is certainly a draw as well.”
Leasing activity at the building has included the addition of 10 new tenants, with a total commitment of more than 40,000 square feet of office space.
700 Canal is located amid one of the nation’s largest redevelopment projects, Harbor Point. The site is a former industrial area that is being redeveloped into a pedestrian-friendly, mixed-use neighborhood incorporating over 6 million square feet of office, retail, residential and hotel space.
Corporate neighbors include the world headquarters for Starwood Hotels, Kayak.com, Design Within Reach, Louis Dreyfus and McKinsey. Retail and dining destinations include Exhale Spa, Fairway Market, Paloma and Dinosaur Bar-B-Que.
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