Reckson Associates buys Stamford trophy.
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|
|Date:||Aug 3, 2005|
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