Colliers International and RHYS Commercial have arranged a long-term, 22,500-square-foot lease for Tradition Energy at 9 West Broad Street in Stamford, CT.
The global energy brokerage and procurement management consulting firm was represented by Colliers International and will relocate its U.S. headquarters within Stamford to occupy the entire top floor with a large outdoor terrace at the nine-story, 202,000-square-foot office building in early 2016.
Concurrent with Tradition Energy’s new lease, the building’s ownership, who is represented by RHYS Commercial, has announced plans to re-clad the property’s facade to modernize and upgrade its appearance.
This will complement the recent completion of extensive renovations to 9 West Broad Street’s lobby, conference center, fitness facility, café and boardroom.
The property is owned by a joint venture between certain affiliates of Westport Capital Partners LLC and Forstone Capital.
As part of the redevelopment, ownership added a new fitness center with full locker rooms and an outdoor plaza that will connect the property to the revitalized Mill River Park, which, upon completion of its own transformative $60 million capital improvements campaign, will feature an outdoor skating center, carousel, food stand and more.
“Tradition Energy saw a significant value play in 9 West Broad Street’s easily accessible location on the edge of Stamford’s Central Business District, along with the property’s commanding presence overlooking the revitalized Mill River Park.” said Michael Gordon, Executive Managing Director at Colliers International, who along with Joseph A. Cabrera, Vice Chairman, represented the tenant in the transaction.
Added Alan Kurzer, CEO of Tradition Energy: “The growth of our business over the past several years created an exciting opportunity to build a new office capable of supporting our ongoing expansion plans. We saw 9 West as a fresh cutting edge space in a revitalized location that offered everything we were seeking.”
“Our significant success in redeveloping and rebranding this dynamic property has flagged 9 West Broad Street as a premier, Class-A option in the Stamford market,” said Brandon Hall, principal of Forstone Capital. “We are excited to welcome this global company to the building as we continue to attract strong interest in the remaining available space.”
Cory Gubner, President and CEO, and Christian Bangert, Senior Vice President and Principal, of RHYS Commercial represented ownership in the transaction.
“This new lease has brought occupancy to approximately 60 percent with remaining, full-floor availability on floors six, seven and eight, which can also be demised to accommodate tenants seeking smaller office spaces.”