New deals in commercial real estate
Published 1:05 pm, Wednesday, December 18, 2013
Antiques center leases Norwalk space
Fairfield County Antique and Design Center has completed a 20,000-square-foot lease at 19 Willard Road in Norwalk to house a multi-dealer antique and design center. Scheduled to open in December, the new center will feature more than 100 dealers offering an array of antique and vintage furniture, accessories, art, jewelry and collectibles. Located in a high-traffic area off the Post Road on the Norwalk/Westport line, the center will also showcase multi-family estate sales offered by area estate sale managers and dealers. The building is owned by SIR Development of Westport. Adam Klimek, director at the Stamford office of Cushman & Wakefield, represented principals of Fairfield County Antique and Design Center in its year-long search for the new venue.
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RXR signs new Stamford tenant
RXR Realty, a real estate operating and investment company in the New York Tri-State area, signed a lease agreement with TIAA-CREF at its Class A office campus at 225 High Ridge Road, in Stamford. A TIAA-CREF wealth management division will occupy 6,100 square feet in the property's East Building where it is expected to move in January. The space was previously occupied by the Clairol division of Proctor & Gamble. RXR was represented in lease negotiations by Gregory Frisoli, executive managing director, Newmark Grubb Knight Frank. TIAA-CREF was represented by Josh Liebowitz and Kevin Langtry from CBRE. Set on 14 landscaped acres, 225 High Ridge Road is comprised of two distinctive buildings. Major tenants include Synapse Group, Philip Morris Capital, Bank of America, Nestle Waters and Metropolitan Life Insurance.
First Niagara closes on Greenwich loan
First Niagara's Commercial Real Estate Group has closed on a $15 million loan for the refinancing of One Sound Shore Drive, a fully leased, 60,000-square-foot Class A office property in Greenwich. The property is owned and managed by Simone Development and Fareri Associates. Tracy Dembicer, vice president, commercial real estate, handled the transaction for First Niagara. This is First Niagara's second financing transaction for Simone and Fareri. Last month, First Niagara closed on a $22.8 million construction loan for the development of 3030 Westchester Ave., a new 85,000-square-foot, medical office building in Purchase, N.Y. The offices have been leased in their entirety to Westmed Medical Group, a physician-owned and managed multi-specialty group practice.
Advanced Specialty comes to Norwalk
Advanced Specialty Care has completed a 6,735-square-foot office lease at 488 Main Ave., a 36,000-square-foot building in Norwalk, joining locations in Danbury, New Milford, Ridgefield and Southbury. Advanced Specialty Care is a multi-specialty practice in Fairfield County that provides eyes, nose and throat, allergy, plastic and cosmetic surgery, hand surgery and dermatology physician services. Cushman & Wakefield's leasing team, led by Senior Director Steve Baker, Director Adam Klimek and Associate Director Bill Montague, represented the landlord, Fairfield-based Edgewood Capital. The tenant was represented by Cushman & Wakefield's Healthcare Practice specialists, Senior Director Sean McDonnell and Director Kathleen Fazio.