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General Atlantic to relocate to recently renovated, 180,000-SF trophy office building in Greenwich, CT
NEW YORK, January 24, 2013 — Jones Lang LaSalle has completed a new, direct lease totaling 29,412 square feet of commercial office space at 600 Steamboat Road in Greenwich, Conn. General Atlantic LLC signed an 11-year lease at the Class A, 180,000-square-foot office building.
JLL represented both the building owner, GRC Realty Corp., and the tenant in the transaction. GRC Realty was represented by Brian Higgins and Chris Kraus, managing directors; George Walker, senior vice president; and Ethan Rice, vice president. The team worked closely with Michael Rea, vice president of corporate services, with GRC Realty. General Atlantic was represented by Robert Martin, vice chairman and head of brokerage for JLL’s New York tri-state operations; and Gil Ohls, managing director.
“Since GRC Realty began offering space at the building earlier this year, 600 Steamboat Road has become one of the most sought-after locations in Greenwich,” said Kraus. “The trophy-class office building offers stunning views of Greenwich Harbor and Long Island Sound. GRC Realty recently completed a multimillion renovation program that thoroughly updated and enhanced the property.”
“General Atlantic, one of the oldest and pre-eminent private equity firms in the world, joins a first-class tenant roster that JLL has assisted us in developing at 600 Steamboat Road,” said Rea. “The office building is also home to Bessemer Trust, one of the most esteemed wealth managers in the United States, with $76 billion under management; and Russell Reynold’s RSR Partners, a true leader in the executive search field.”
General Atlantic will occupy the entire first floor in the northern section and half of the first floor in the center section of 600 Steamboat Road, which is located near the intersection of Steamboat Road and Oneida Drive. The private equity firm is relocating to the property from its previous office at 3 Pickwick Plaza in Greenwich.
Built in 1972, 600 Steamboat Road previously served as the headquarters for General Reinsurance Corp. and was later solely occupied by RBS Greenwich Capital Markets. Building owner GRC Realty has nearly completed a multimillion-dollar capital improvement program at the office building, which is located nearby I-95 and is less than a quarter-mile from the Greenwich Metro-North Station.JLL is a leader in the New York tri-state commercial real estate market, with more than 1,750 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2011, the New York tri-state team completed approximately 15.9 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at more than $6.8 billion, and oversaw a property and facilities management portfolio of 63.6 million square feet and an agency leasing portfolio of 49.8 million square feet.
About Jones Lang LaSalleJones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
George Shea, Mark Faris - Shea Communications