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Reckson Associates buys Stamford trophy.

Jeffrey R. Dunne and Steven P. Bardsley of CB Richard Ellis' New York Tri-State Investment Team recently represented ownership in the sale of 225 High Ridge Road in Stamford, Connecticut.

The Team was also responsible for procuring the buyer, Reckson Associates Realty Corp.

225 High Ridge Road, developed by Hines, is a 227,966 s/f office campus that is one of the few institutional grade properties in the northern business district of Stamford.

At the time of sale, 225 High Ridge Road was 98.6% leased to a credit tenant roster including Clairol Incorporated (114,720 SF), Philip Morris Capital Corporation (41,911 SF), U.S. Trust Company, N.A. (39,812 SF), and Statoil Marketing & Trading (US) Inc. (15,451 SF).

Dunne commented, "225 High Ridge Road is a trophy quality asset with a trophy quality tenant roster and has never dropped below 95% occupancy. Reckson should fair well with this asset."
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Title Annotation:Reckson Associates Realty Corp.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 3, 2005
Words:154
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