XL Weather & Energy, a tenant at 100 First Stamford Place since 2001, has increased its 9,637-sf offices to 18,540 sf. The company also extended its existing lease term for all of its space through 2008, according to W&M officials.
XL Weather & Energy provides insurance, reinsurance and financial products designed to help businesses protect their revenues against falling demand or excessive costs caused by fluctuations in weather.
W&M executive vice president Jeffrey H. Newman, leasing and marketing vice president JoAnn B. McGrath and senior leasing associate Kathleen A. Caracappa represented the building owner, an affiliate of the Malkin family, in the lease deal. Cushman & Wakefield Director Charles Hoffman III and Associate Director Jodie Dostal represented XL Weather & Energy.
Scott Edwards, vice president and controller of XL Weather & Energy says the property's location was a key factor in its decision to expand and lengthen its lease deal at 100 First Stamford Place. "Since it's so close to the Stamford Transportation Center and I-95, First Stamford Place is an excellent location for us," he says. "Commuting is easy for employees who live in Manhattan, and it's also convenient for employees of our Manhattan-based sister companies to come here for meetings."
W&M is the marketing and managing agent for the First Stamford Place complex, which consists of three office buildings that total approximately 810,000 sf. The firm provides real estate management, marketing and acquisition services for the Malkin family, which has commercial and residential operations in eight states. Malkin affiliates own a number of major office properties in Fairfield County, CT and in Westchester County, NY.
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