707 Summer St., Stamford
A growing law firm has leased 17,000 square feet at 707 Summer St. in Stamford.
Ryan, Ryan, Johnson & Deluca is planning to move from its current spot at 80 Fourth St. into the new headquarters early this month. The firm has 29 attorneys and is looking to add more.
The firm previously occupied 12,000 square feet spread out over the Fourth Street location and two office condominium units at 1700 Bedford St.
Choyce Peterson Inc. Vice President Jeffrey Williams negotiated the long-term lease for the firm and Gerard Hallock of Albert B. Ashforth Inc. represented the landlord.
“In the past three years, Choyce Peterson has represented 14 area law firms, so we’ve become very good at understanding their needs,” said Williams. “We completed the search and transaction in six months and were able to negotiate a long-term lease with options to expand and renew with terms that were well within Ryan, Ryan, Johnson & Deluca’s expectations.”
Choyce Peterson is a commercial real estate brokerage firm that exclusively represents corporate tenants. The firm, which has offices in Stamford and White Plains, has completed millions of square feet of tenant representation transactions in 42 states.
Abromaitis to Be Replaced
Online job postings, a national search and a 14-member screening team are in place to help Gov. M. Jodi Rell replace outgoing Department of Economic and Community Development Commissioner James F. Abromaitis.
Abromaitis has held the top post since 1997. The department’s primary focus is economic, community and housing development, and responsibilities for the incoming candidate will include oversight of business development and retention, job growth and housing creation and revitalization throughout the state.
Both the DECD and the Department of Administrative Services are posting the job on their Web sites. The posting provides details on the education and professional experience requirements, as well as the projected salary range: $100,365 to $153,474.
Lincoln Renews Lease
The Lincoln National Life Insurance Co. has renewed its lease at Metro Center, a Class A office building in Hartford.
The agreement extends the lease five years and encompasses approximately 190,000 rentable square feet. The deal is expected to add approximately 700 jobs in downtown Hartford.
Cushman & Wakefield represented both the tenant and landlord, Northland Investment Corp., in the transaction.
Based in Newton, Mass., Northland Investment’s Connecticut holdings, which include Metro Center, Hartford 21, Goodwin Square, CityPlace II, Trumbull Place, Bigelow Commons, The Pavilions and The Crosthwaite Building, aggregate approximately 4.5 million square feet and are valued at $500 million.
“Northland is proud to have played a role in another important piece of the city’s revitalization, and we look forward to continuing our relationship with Lincoln,” said Bruce Nolen, Northland Investment’s commercial vice president.
Northland owns a $1.5 billion diversified portfolio of 14.5 million square feet of real estate, with major concentrations in New England and Southern states.
Bayer Selling Property
Bayer HealthCare is unloading its 1.5 million-square-foot property in West Haven and has selected CB Richard Ellis to be the exclusive sales agent.
The 137-acre mixed-use property has 17 individual buildings and sits at 400 Morgan Lane.
“400 Morgan Lane offers a unique opportunity for a corporate user or investor to take advantage of a property with excellent flexibility, location, access and visibility within one of Connecticut’s leading business districts,” said Frank Tomasulo of CB Richard Ellis.
Tomasulo, Sean Cahill, Timothy S. Fegan and Thomas Sullivan will oversee the marketing for the property.
The site is located primarily in West Haven with portions of the property extending into the town of Orange. It is bordered by Interstate 95 to the north, Morgan Lane and a commercial and industrial park to the east, and Heffernan Drive and an Amtrak rail line to the south. The site also has a portion of the Oyster River on its property.
Recruiters Lease Space
The staffing firm Express Personnel Services has leased 1,400 square feet at 30 Washington Ave. in North Haven.
The space will function as both an office and recruiting space for the company.
John Isaacs, vice president of George J. Smith & Son Commercial & Investment Real Estate in Milford, represented the tenant, Express Personnel Services, in the transaction.
The staffing company expects to open its new facility on April 2.
