Cushman & Wakefield of Connecticut.

Cushman & Wakefield of Connecticut has negotiated one of the largest regional sales in the past two years for the 482,852 SF International Paper Building at 400 Atlantic St. in Stamford, Conn.

The sale was valued at $105 million. Cushman & Wakefield, which brokered the sale on behalf of International Paper, has also been awarded the leasing and property management assignment for the building.

The building was purchased by 400 Atlantic Associates, LLC, a partnership consisting of The Landis Group of Stamford, Allegiance Capital Partners of New York City, and RiverOak Investment Corporation, LLC of Stamford. The deal will bring approximately 250,000 SF of prime, multi-tenant office space to the Stamford market, available for lease in the first quarter of 2001.

Andrew Merin, executive director of Cushman & Wakefield financial services, negotiated the sale. Jay Hruska, Paul Kauffman, and Steve Baker of Cushman & Wakefield's Connecticut office have been named the leasing agents for the property. The rental rate at the building starts at $45 per SF.

International Paper, will relocate its headquarters to Stamford from Purchase, N.Y., and will occupy approximately 132,000 SF of space on four floors in the 15-story building. The company purchased the site as part of a $7.3 billion merger agreement to acquire Stamford-based Champion International Corporation in June.