By Daniel Geiger
A brokerage team from the real estate services firm Grubb & Ellis will be handling the sale of two office buildings in Stamford Connecticut.
The team, led by Jason Meister, one of Grubb’s rising investment sales brokers in the city, will be selling 30 Oak Street and 1200 Bedford Street on behalf of a bank. The properties are part of the same office complex and together total roughly 72,000 s/f. Meister said that they cater to tenants seeking Class B space in Stamford, a banking hub north of Manhattan where a number of major financial institutions such as UBS have significant facilities.
Meister said that about 70% of the space in the two office buildings is vacant, offering a buyer a chance to lease the properties and capture the potential upside of a rising office market. 1200 Bedford Street is fully vacant, allowing tenants in the size range of roughly 30,000 s/f the chance to take the entire building as their own dedicated facility. A private office complex is considered a difficult to find amenity in larger markets like New York City.
Meister, the son of the prominent Manhattan real estate litigator Stephen Meister, has blazed a promising career in brokerage. Since joining Grubb in recent years, he has handled a number of notable transactions and is currently in the process of marketing The Williams Club in Manhattan, a well known events venue in midtown that could find a more lucrative use as a mission for a U.N. tenant or a boutique office space.