Officials with Cushman & Wakefield report Rochdale is expected to relocate from 570 Lexington Ave. in Manhattan to its 13,860-sf new offices by April. C&W senior director Steve Baker and associate director Adam Klimek represented the building owner 750 Stamford Partners LLC, an entity managed by Martin Sands. Colin Reilly of CB Richard Ellis represented Rochdale.
"The property was attractive to Rochdale Securities because it offers a great balance of central location and accessibility, combined with completely renovated office space, modern amenities and a cost-effective leasing structure," Baker says. "The property owner has put a tremendous effort into this redesign to meet the needs of today's tenants." A more than $2-million capital improvement program at the property was recently completed.
The class A 11-story office building previously served as the North American headquarters for Diageo plc until late 2005 when the firm relocated to 801 Main Ave. in Norwalk.
C&W's Baker says the firm is in negotiations with several tenants interested in occupying a significant portion of the remaining 86,000 sf available at the property.
Earlier this month, thanks to significant incentives offered by the State of Connecticut, Blue Sky Studios revealed it would be relocating from offices in White Plains to 106,140 sf at One American Ln.--the Greenwich American Centre--in Greenwich.
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