Sorin Capital To Relocate HQ to Connecticut

Brian Carcaterra, managing director of Newmark-Knight Frank's Stamford office, represented Sorin Capital Management. Jay Hruska, executive director of Cushman & Wakefield of Connecticut, represented International Paper.

Carcaterra says that Sorin Capital Management is scheduled to move in to its new headquarters space on Nov. 30. The firm had focused primarily on the Stamford office market in its office search and required additional space to accommodate future growth "The suburban markets offered greater value in terms of affordability and proximity to some of the executives' residences," he notes. Eventually Sorin hopes to have about 40 employees working out of its Stamford HQ, Carcaterra adds.

Sorin will be moving out of approximately 3,000 sf of space it occupies at 780 Third Ave. in Manhattan that currently serves as its HQ. Carcaterra says that Sorin will retain a presence in New York City at an as yet unspecified location. The firm will likely maintain about a 1,500-sf office in the city.

International Paper corporate headquarters was moved from Purchase, NY to Stamford in December 2000 shortly after International Paper's purchase of Champion International. The 400 Atlantic St. property was built in 1981 and served as the headquarters for Champion. International Paper, now headquartered in Memphis, subsequently entered into a sale-leaseback transaction for approximately 132,000 sf of space at the 400 Atlantic St. property with the Landis Group of Stamford in a deal valued at $105 million. In 2005 International Paper announced it would relocate its corporate headquarters from Stamford to Tennessee.