Darien-based Baywater Properties and an affiliate of True North Management Group of White Plains, New York have acquired the property at 2777 Summer Street in Stamford.
The 110,000-square-foot commercial office building is comprised of seven floors and includes on-site security, 24/7 key-card access, covered parking, shuttle service to the Stamford Transportation Center and a deli/café in the lobby.
The Baywater-True North venture has plans to invest in a significant renovation of many of the building’s common areas, including the front lobby.
“We are highly focused on the management of our buildings and work hard to provide our tenants with the highest quality of service,” said Baywater Properties founder David Genovese.
At the time of acquisition, the building was less than 50% leased. The new owners will be offering tenants turn-key real estate solutions designed to meet their office space needs.
The venture recently signed a lease for approximately 14,000 square feet with Keller Williams Realty, and is in active discussions with tenants whose needs total more than 15,000 square feet.
“2777 Summer Street is attractive to prospective tenants at least in part because it is a well-run, building that is both functional and well-maintained,” said Brad Soules, Director, Newmark Grubb Knight Frank. “In addition, David (Genovese) and his team are attentive and proactive, making tenants feel welcome and well-served – and that makes a very positive impression.”
“This office building is in a prime location at the top of Summer Street in Stamford,” said Henry Boeckmann, Director of True North Management Group.
Baywater Properties is a full-service commercial real estate company serving Fairfield County, Connecticut and Westchester County, New York. The firm owns and actively manages a portfolio of commercial real estate assets totaling approximately 700,000 square feet. Information on Baywater Properties can be found on baywater.net.