Norwalk-based Building and Land Technology has expanded its presence in the Stamford office market with its purchases of Stamford Landing and 600 Summer St.
“Our footprint is here, and we”™ve gotten to know our tenants. I think there”™s comfort knowing who we are and how close we are,” said Carl Kuehner III, president and CEO of BLT, which is responsible for the 80-acre Harbor Point development, directly across the Stamford Harbor from the Stamford Landing location. “We have a vested interest in the surrounding area, and there’s obvious positive linkage between Stamford Landing and the 6 million square feet of commercial, residential, retail and restaurant space at Harbor Point.”
BLT purchased 600 Summer St. and Stamford Landing, a four-building office park on Southfield Avenue, from Five Mile Capital Partners in Stamford. BLT has been managing the properties for Five Mile since spring 2009.
Laure Aubuchon, director of economic development for the City of Stamford, said the city is indebted to BLT for the capital and development that it has injected into the city”™s economic development engine.
“It’s a real vote of confidence in Stamford,” Aubuchon said.
The property at 600 Summer St., directly across from the Stamford Chamber of Commerce, is a 99,424-square-foot building. The building has an occupancy level of about 85 percent.
“Its proximity to the courthouse is excellent,” Kuehner said.
Tenants of the property include a number of law firms, Stamford Bank & Trust and H&R Block.
Stamford Landing contains 210,086 square feet of space. Kuehner said the purchase of Stamford Landing has allowed BLT to offer a broader range of rental rates for its Stamford tenants. Rental rates for 600 Summer St. are between $25 and $27 per square foot, and at Stamford Landing they range from $25 to $31 per square foot.
Built in 1902 Stamford Landing was originally the Stollwerck Brothers Chocolate Factory and was converted to office space and during the 1980s. The property is also the location of The Crab Shell seafood restaurant.
Kuehner said BLT will make capital improvements immediately to both properties, which include roof replacement and air system improvements at Stamford Landing and structural enhancements at 600 Summer St.
Jack Condlin, president of the Stamford Chamber of Commerce, said BLT is the major player pushing growth and development in Stamford.
“Clearly they are very bullish on Stamford, even through difficult times,” Condlin said. “They are continuing development and taking on projects.”
