STAMFORD, CT-Reckson Associates Realty Corp. is about a month away from completing a major repositioning of the Six Landmark Square office building here. The firm also hopes to begin construction later this year or in the spring of 2006 on Seven Landmark Square, a two-story, 38,752-sf retail building, that will serve as "the front door" to the six-building complex.
Reckson chief operating officer Salvatore Campofranco says Seven Landmark Square will most likely have two or three tenants. That property, which will be built at the intersections of Atlantic and Broad streets, has attracted interest among high-end retailers, he adds.
The repositioning program at Six Landmark Square has involved the joining of the nine-story building, which totals 171,899-sf, to the entire office complex by means of a newly designed and landscaped plaza. Improvements at the building itself include a new lobby and elevator corridors.
A year after Reckson acquired the Landmark Square complex in 1996, the firm began investing in upgrading the buildings and the surrounding property. To date, the firm has spent approximately $30 million on its capital improvement efforts, according to Campofranco. Currently, Reckson is marketing approximately 120,000 sf of vacant space that had been occupied by Diageo, which relocated operations in Stamford and in Westchester County, NY to Norwalk. Campofranco says that tenant interest is high for the available space. However, no lease deals are ready to be announced.
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