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Developers Focus on New Office Designs for New Generation of Tenants

Westfair Online (12/30/15) Alvarez, Reece

In Connecticut, Stamford's stock of old corporate headquarters and multi-thousand-square-foot office buildings are being redesigned to attract a new generation of commercial tenants. The new redesigns are being down with a particular focus on technology and media companies. Ted Ferrarone, COO for the locally based development firm Building and Land Technology, confirms, "That's what we are seeing today, when you think about new economy type tenants, technology, marketing, advertising, and IT firms, they are looking to be within that sort of mixed-use ecosystem where they have great space. But they are also in a great environment where they can get out and walk. They are using the surrounding environment much more than a traditional office tenant would."

BLT, for example, is presently redeveloping the former 550,000-square-foot Pitney Bowes global headquarters locally. The redevelopment will focus on creating open spaces. Also part of the mix will be large floor plans that have become known for increasing collaboration and productivity among staffers. The combination of commerce and community is precisely what new economy tenants are searching for in new digs, stated BLT portfolio manager Jim Phillips. "As we were out in the marketplace talking to technology tenants, we found there was a real resonance here where people drew a lot of parallels to what is going on out in Silicon Valley," he concluded. "When you look at what we have here in Stamford, it actually shares all those characteristics -- great transportation, great housing, and nightlife."
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