Pitney Bowes Retains C&W to Market 22-Acre Campus

The company said earlier this year that manufacturing operations at the main plant complex will cease by year's end. Cushman officials say that most of the office staff at the main site complex have already relocated to the company's headquarters building or other Pitney Bowes office locations in Connecticut. The property is situated at the intersection of Washington Boulevard and Atlantic Street, near the Stamford train station and extends to Stamford Harbor in the city's South End section and is just one block from Long Island Sound.

The master plan for most of the property--more than 19 acres--revised recently by the City of Stamford to allow for mixed-use development of residential housing, retail and other uses such as: medical, government, industrial and flex. The Pitney Bowes property has recently been renamed Peninsula Bay.

"Redevelopment of the main plant site into an exciting mixed-use development, including significant new housing, will be a welcome addition to Stamford's South End neighborhood," states Mayor Dannel P. Malloy. C&W's Metropolitan Area Financial Services Group is charged with marketing the property and finding a buyer. C&W's James Fagan and Patrick Colwell of Cushman & Wakefield of Connecticut, as well as Andrew Merin, David Bernhaut of the firm's New Jersey office and Jamie Covello, who is based at the company's New York City headquarters, are working on the project.

"We expect this offering to attract multiple offers from regional and national investor/developers," says Colwell, a senior director with C&W. "It is extremely rare to have a development parcel of this size, scope and unsurpassed location available in lower Fairfield County." Colwell adds that C&W plans to select a buyer/developer for the property by no later than November of this year.