Skip Ribbon Commands
Skip to main content

News release

NEW YORK, NY

JLL Completes 2 Direct Lease Transactions at 700 Canal Street in Stamford, CT

Providence Service Corp., Arbour Lane Capital Management LLC secure new headquarters space


NEW YORK, June 7, 2016JLL has completed two new, direct transactions at 700 Canal Street in Stamford, Conn., with building owner ClearRock Properties. Providence Service Corp. signed a long-term lease for 7,548 square feet and Arbour Lane Capital Management LLC took 5,166 square feet in a long-term lease at the Class A,office building.  Both companies were represented by JLL's David Dusek, managing director, and Conor Gill, associate. Building owner ClearRock Properties was represented by Brian Carcaterra, senior vice president; Michael McCall, vice president; and Morgan Collins, senior associate, with CBRE Inc.

"Providence Service Corporation. and Arbour Lane Capital Management were both searching for distinctive, high-quality office space in Stamford that would serve the needs of their clients and employees," said Dusek. "ClearRock Properties has invested a tremendous amount of capital improving and repositioning 700 Canal Street, which is located in the revitalized South End of Stamford. Located within the Enterprise Zone, the former industrial building provides both tenants with attractive economics as well as waterfront views, tall windows and high ceilings."

Providence Service, a healthcare and social services company, is relocating its headquarters from Tucson, Ariz., and will occupy a portion of the third floor at 700 Canal Street, which is near the intersection of Canal and Henry streets.

Arbour Lane Capital Management, a recently launched investment management firm, is establishing its headquarters and will occupy a portion of the fourth floor at the building.

ClearRock Properties, Mountain Development Corp. and Gottesman Real Estate Partners acquired 700 Canal Street in late 2015 as part of a 250,000-square-foot, three-building portfolio, and is located near the LockWorks at Yale & Towne complex, the heart of the master planned 80-acre Harbor Point redevelopment project. The complex is located near I-95 and is within walking distance of the Stamford Transportation Center, Fairway Market and many other retail amenities.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About ClearRock Properties
ClearRock Properties is a real estate investment, development and operating firm focused on urban and suburban office properties, with a strategic plan to add value through proactive management. The firm's principals, Doug Winshall and Steve Grant, have over 45 years of experience in acquisitions, leasing, asset management, property management and construction. ClearRock currently owns and/or operates over 1 million square feet in 11 buildings across the Northeast. (www.clearrockproperties.com).