CBRE announces upgrades to multimillion-dollar project

CBRE Group Inc., a Los Angeles-based commercial real estate company with offices in Fairfield and Westchester counties, recently announced the completion of a multimillion-dollar capital improvement campaign at 700 Canal St. in Stamford’s Harbor Point, the state’s largest redevelopment project.

CBRE was the leasing agent, working with building owner ClearRock Properties in Manhattan; building architect Milo Kleinberg Design Associates L.L.C., a Manhattan-based firm with a Stamford office; and real estate property manager Albert B. Ashforth Inc. in Stamford, to improve a 90,000-square-foot historic office space along the waterfront on Stamford’s South End.

Major upgrades were made to the building’s corridors, bathrooms, elevators, security, mechanical systems, building exterior, outdoor patio, landscaping, parking areas and glass lobby. The 700 Canal property was acquired as part of a 270,000-square-foot, four-building portfolio.

The building at 700 Canal St. has 10 new tenants committing to a total of more than 40,000 square feet of office space. The office spaces range from 1,000 square feet to 10,000 square feet, and they are being leased out quickly, with 23,000-square-feet of space currently remaining.

“With its mix of historic charm and now upgraded interior and exterior, this building will continue to attract prominent tenants,” said Brian Carcaterra, CBRE senior vice president. “Its waterfront location in the bustling South End, adjacent to the Harbor Point amenities, is certainly a draw as well.”

The building is on a former industrial area that has been developing into a mixed-use neighborhood over the past several years with more than 6 million square feet of office, retail, residential and hotel space. It is within walking distance of the Stamford train station, which serves as a transportation hub for the Metro-North Railroad and Amtrak.