Rockefeller Co. Subsidiary Leaves NYC

IWS President Roy C. King states that Stamford Harbor Park met the criteria for the firm's space and design requirements. "Stamford Harbor Park offers all the amenities and the environment for our company to function effectively and grow over the 10-year term of the lease," King states. "Our firm conducted an exhaustive search of multiple properties and multiple markets and concluded that Antares' Stamford Harbor Park was the best choice in the market."

John Wheeler, president investments and services at Antares, says that IWS "conducted an extensive search that included New Jersey, Long Island and Westchester." He adds that the firm eventually chose Stamford and later selected Stamford Harbor Park after considering a number of properties in the city. A joint venture of Antares Investment Partners, Goldman Sachs and Lubert-Adler Real Estate Funds acquired the nearly 400,000-sf complex in June 2007 for $135.8 million.

Antares was a busy player, purchasing multiple office assets along the Stamford waterfront in 2007. The waterfront district is adjacent to its proposed $3-billion Harbor Point project, which will include residential housing, retail and restaurant space along with a number of public amenities on an 82-acre parcel. Senior managing directors Craig Lemle and Erik Schmall of Studley, Inc.'s Manhattan office represented IWS, while the leasing team at Antares Real Estate Services represented the property.

Antares co-founder James Cabrera says the IWS lease deal "validates our underwriting assumptions for these assets and is a testament to our ability to attract high caliber tenants from Manhattan into the Stamford market. Integrated Wealth Services was able to capitalize on our vision for the Stamford waterfront and lease space in one of our premier assets in the Harbor Point development in which Harbor Park is located." Antares has pushed the occupancy rate of its 1.5-million-sf Fairfield County office portfolio to 83% from 74% at the time of purchase in 2007.

Wheeler says that IWS will take possession of the space at Harbor Park on June 1 and is expected to take occupancy two to three months thereafter. IWS provides wealth data aggregation and reporting solution for single-family and multi-family offices, high wealth individuals and financial institutions. IWS officials could not be reached for comment at press time.