BLT Welcomes New Tenant at 550 KSF Office Campus in CT
- Apr 02, 2019
Building and Land Technology has signed a lease for 40,000 square feet at 200 Elm Street in Stamford, Conn., with Diageo. The beverage company will occupy the Class A office space at the 550,000-square-foot property. JLL worked on behalf of the tenant in the transaction.
Located at 200 Elm St., the property is near the Stamford Transportation Center and adjacent to Interstate 95. Shopping centers, hotels and restaurants are within walking distance of the asset. The company’s Stamford office will house its research and development/innovation center of excellence, along with members of the finance, human resources, supply and business services teams, attracting roughly 250 jobs. The planned relocation is set to take place early next year.
Renovated in 2017, 200 Elm Street is one of the two office towers that formerly housed Gen Re’s headquarters. According to Yardi Matrix data, BLT acquired 200 Elm and its sister building at 695 E. Main St. in 2012 for $30 million. The two interconnected assets are surrounded by a private landscaped courtyard and provide shared amenities.
Growing tenant base
Deloitte anchors 695 East Main Street, also known as the Clock Tower Building, while 200 Elm has become a diverse multi-tenant environment. Henkel Consumer Goods Inc. occupies roughly 155,000 square feet and RSM, a provider of audit, tax and consulting services, moved into 27,800 square feet of space at 200 Elm. Tudor Investment Management Co., CA Technologies and Webster Bank each occupy approximately 25,000 square feet.
“Positive momentum continues to build in Stamford and we have helped make it a more desirable place by investing heavily into new and existing commercial and residential building stock. Stamford has become a modern and multi-faceted city with genuine appeal to today’s workforce, with contemporary apartments, retail, restaurants and improved public spaces in both Downtown and the South End,” said Carl Kuehner III, CEO of BLT, in a prepared statement.
Drew Saunders, Ed Tonnessen and Andrew Lutzer of JLL represented Diageo in the lease transaction. Diageo also occupies space at another BLT asset in Connecticut, together with FactSet, GE and Bridgewater Associates.