Starwood Hotels & Resorts Signs 430 KSF Lease for Global HQ in Stamford, Conn.
- May 27, 2014
Starwood Hotels & Resorts Worldwide Inc. has signed a new 430,000-square-foot, 20-year lease for a planned $30 million expanded global headquarters at One StarPoint in Harbor Point, made possible by a state loan of up to $5 million and $20 million in state tax credits.
Harbor Point, a master-planned development by Building and Land Technology, offers Class A office space to attract and retain major corporations, as well as abundant residential and retail space to create a 24-hour live/work environment that appeals to the modern workforce.
“Starwood’s commitment is important to Harbor Point because they are everything that you could want in a corporate tenant-industry leading, cutting edge and in growth mode,” Carl Kuehner III, Building and Land Technology’s CEO, told Commercial Property Executive. “Perhaps most important, however, they are committed to not only Harbor Point, but the City of Stamford as a whole. Starwood plans to add more than 340 jobs, and Building and Land Technology is excited to have this innovative company as a tenant and to see it expand at One StarPoint.”
Starwood opened its global headquarters at Harbor Point in 2012, bringing more than 800 jobs to Stamford.
“For the past two years, we have enjoyed being part of the evolution of Harbor Point, and we are excited to continue being part the transformation of this historic waterfront area,” Kenneth Siegel, Starwood’s chief administrative officer, said in a company statement. “Starwood has been an early stakeholder in many destinations around the world and we are proud to be one in our new hometown as well.”
The two-tower One StarPoint is a 430,000-square-foot Class A office property that was originally built in 1989 and renovated in 2011. Starwood currently occupies 300,000 square feet, and under the new lease will be able to expand into additional space as it becomes available.
“As our pipeline grows around the world, we also continue to grow our home base in the heart of Stamford,” Frits van Paasschen, president & CEO of Starwood Hotels & Resorts, told the Norwalk Hour. “As a proud member of this community, we are thrilled that our growth will bring more than 300 jobs to Stamford’s historic waterfront.”
According to van Paasschen, Starwood’s design-driven headquarters in Harbor Point is in the final stages of LEED certification. Other amenities include two private fitness centers, a 140-seat cafeteria, and shuttle service to the Stamford Transportation Center, just a short ride away.
The building sits adjacent to several commercial and residential properties within Harbor Point, and provides Starwood’s expanding workforce with immediate access to retail stores, restaurants, and luxury residences developed by Building and Land Technology. One StarPoint is also close to the water, offering views of Long Island Sound as well as a 32-slip marina on site.
“Harbor Point has already proven to be appealing to a diverse mix of great tenants. Our goal was to create a dynamic mixed-use environment,” Kuehner added. “We now have 30 new retailers, a busy events calendar, a wide range of new apartments, and a free trolley service to link corporate and residential tenants to the nearby Stamford Transportation Center. We’re always doing more, but I think we’ve hit many of the marks necessary to garner interest from other corporations.”