Leasing Activity Remains Strong At Stamford's 700 Canal Street

The recent multi-million-dollar capital improvement campaign has made the building a desirable location for small and mid-sized tenants. The CBRE team of Brian Carcaterra, senior vice president; Michael McCall, vice president; and Morgan Collins, senior associate, oversee the leasing and marketing program on behalf of ClearRock Properties, Mountain Development Corp. and Gottesman Real Estate Partners, which acquired the property as part of a 250,000-square-foot, three-building portfolio including 850 and 860 Canal streets.

“The past 12 months have been robust at 700 Canal Street. The new leases speak to the fact that the building is a highly sought-after Class-A property that offers modern space in what has become a vibrant business community in Stamford’s South End,” Carcaterra said.

Of the five new leases, the largest arranged by CBRE was for Providence Service Corporation, a health care and social services company, for 7,548 square feet. In addition, Arbour Lane Capital Management secured 5,166 square feet of space; E4sciences, an environmental engineering firm, secured 3,596 square feet; Avant Capital, a financial services firm that recently moved from Greenwich, leased 2,663 square feet; and Fields Development, a real estate development firm, took 1,345 square feet.

Renewals include US Beverage for 6,681 square feet; Mezzapelle & Associates, a tax services firm, for 2,400 square feet; and the marketing firm Boldheart, which downsized to 960 square feet. 

In July, Serendipity Labs, a national co-working operator based in Rye, N.Y., will open a 13,000-square-foot, membership-based workplace on the ground floor. Serendipity Labs offers private offices, co-working options, team rooms, a work lounge and event space.

The building at 700 Canal St. is positioned amid one of the nation’s largest redevelopment projects, Harbor Point – an 80-acre former industrial area being redeveloped into a pedestrian-friendly, mixed-use neighborhood incorporating more than 6 million square feet of office, retail, residential and hotel space. 

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