RiverOak eyes urban retail projects
Stamford-based RiverOak Investment Corp. L.L.C. is raising $300 million to invest in retail centers in cities.
RiverOak is eyeing projects involving repositioning urban, mixed-use retail real estate in areas with favorable demographic growth.
“We believe that urban retail projects offer significant opportunity for return on investment as the economy improves, and we are targeting markets that are poised to perform well in even the most challenging environment,” said George Yerrall, RiverOak”™s chief investment officer, in a prepared statement.
Green label for Nestle Waters
The U.S. Green Building Council awarded its LEED Gold designation for Nestle Waters North America”™s Stamford headquarters, where it has 500 employees.
Nestle Waters relocated there from Greenwich a year ago, with the building previously the home of Oracle Corp.”™s Hyperion software operations. It marks the 10th time a Nestle Waters building has been cited under USGBC”™s Leadership in Energy and Environmental Design program, which Nestle Waters says is the most of any U.S. food or beverage manufacturer.
CPG Architects designed the building and Pavarini Construction Co. was the general contractor, with both companies having Stamford offices.
Greenwich company shops in Winsted
Gladstone Development Corp. affiliate Winrock L.L.C. spent $15.4 million to acquire The Shops at Ledgebrook, a shopping center in Winsted.
The 105,000-square-foot center”™s anchor tenant is Super Stop & Shop. Greenwich-based Gladstone owns no other Connecticut properties, but has several in New York, New Jersey, Pennsylvania and Vermont.
Breaking news: Greenwich is expensive
Greenwich Avenue is the third most expensive street for office space in North America, according to a study by Jones Lang LaSalle, at $90 a square foot of space.
Greenwich”™s “Rodeo Drive East” was priced out only by Sand Hill Road in Menlo Park, Calif., at $114 a square foot, and Fifth Avenue in Manhattan at $97.
Rounding out the top five were University Avenue in Palo Alto, Calif., and Pennsylvania Avenue in Washington, D.C.
