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Building And Land Technology Purchases Pitney Bowes Site In Stamford

STAMFORD, Conn. – Building and Land Technology announced the acquisition Monday of the former headquarters of Pitney Bowes at 1 Elmcroft Road in Stamford.

Building and Land Technology announced the acquisition Monday of the former Pitney Bowes headquarters at 1 Elmcroft Road in Stamford.

Building and Land Technology announced the acquisition Monday of the former Pitney Bowes headquarters at 1 Elmcroft Road in Stamford.

Photo Credit: Contributed

The property is a 550,000-square-foot Class A office complex adjacent to Harbor Point, the transformative mixed-use waterfront development in Stamford. The announcement was made by Carl R. Kuehner III, CEO of BLT.

“We remain bullish on Stamford and are delighted to make this new investment in the office market here,” Kuehner said. “This is a spectacular opportunity to own and redevelop an outstanding asset that will meet the needs of today’s companies.  

"In addition to providing a first class office environment, 1 Elmcroft will enjoy all the benefits of Harbor Point’s dynamic waterfront lifestyle, including our newly-constructed apartments, diverse retail and restaurants, parks, and community events.  We are experiencing strong demand for the limited remaining office availabilities in Harbor Point, and we believe that tenants will be drawn to 1 Elmcroft as well.”

The property was designed by noted architecture firm I.M. Pei & Partners. Situated at the tip of the South End peninsula, the complex offers stunning views of Kosciuszko Park, Stamford Harbor, and Long Island Sound.  BLT purchased the complex, which is currently vacant, from Pitney Bowes.

Within the past five years, the Harbor Point peninsula has been transformed by the addition of more than 2,300 apartments, several hundred thousand square feet of Class A office space, and more than 30 new retailers, including Fairway Market, Exhale Fitness, and a dozen restaurants.

“Stamford is a bright spot for the Connecticut economy, and we are proud to have secured long-term commitments from tenants like Deloitte, Starwood, and XL Reinsurance by offering high quality space, excellent access to transportation, and the lifestyle amenities that help these companies grow and attract top talent,” Kuehner said.  

“We are confident that 1 Elmcroft Road will be a sought-after office address when we reintroduce it to the market."

BLT also redeveloped the former Pitney Bowes “Main Plant” in the city’s South End into nearly 1,000 new apartments, the noted Waterside School, and Commons Park, a centerpiece amenity for community building in the heart of Harbor Point.  

One of the largest redevelopments on the eastern seaboard, Harbor Point encompasses an entire neighborhood, with a full mile of waterfront, more than 4,000 residential units, and several million square feet of commercial development.

 

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