FLORHAM PARK, NJ - HFF announced today the sale of 300 Main Street, an 80,708-square-foot office building in Stamford, Connecticut, which it sold on behalf of the seller, SL Green Realty Corp. Seaboard Properties purchased the asset.
Built in 1927, 300 Main Street, also known as the former First Union National Bank building, consists of an eight-story office building with street-level retail and a 147 space parking garage. Most recently renovated in 2011, the building is 76 percent leased to tenants including Elizabeth Arden. The property is located in the Downtown Stamford Historic District near the intersection of Route 1 and less than one-third of a mile from Interstate 95.
The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O’Hearn and Jeffrey Julien and associate director Steve Simonelli.
“This asset presented investors with a prime opportunity to acquire a well-maintained and ideally positioned historical property in a great downtown location within Stamford, which is home to numerous Fortune 500 and top flight financial firms,” commented Cruz.
SL Green Realty Corp., New York City's largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2013, SL Green owned interests in 87 Manhattan properties totaling 42.8 million square feet. This included ownership interests in 24.3 million square feet of commercial properties and debt and preferred equity investments secured by 14.7 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 31 suburban assets totaling 5.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with three development properties in the suburbs encompassing approximately 0.4 million square feet. The company also has ownership interests in 30 properties totaling 4.1 million square feet in southern California.
Seaboard Properties Incorporated owns and manages a diverse portfolio of high-quality, distinctive commercial and residential properties. Its long-standing commitment to Stamford and Fairfield County is based on a belief that Stamford is poised to emerge not only as an independent financial center but as the major urban center within the New York metropolitan corridor. At Seaboard, the firm considers its tenants clients, and believes in establishing relationships built on quality spaces and added services.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.