Starwood Expands by 130,000 Square Feet in Stamford

STAMFORD, CT—Starwood Hotels & Resorts Worldwide Inc., which relocated its global headquarters in 2012 from New York State to 300,000 square feet of space in Stamford, has signed a major expansion lease at the property.

The hotelier has signed a new 20-year lease for 430,000 square feet at One StarPoint in the Harbor Point waterfront development in Stamford with property owner Building and Land Technology. Most of the expansion space is currently occupied by Deloitte & Touche, which announced in January it was expanding and relocating out of the One StarPoint property to approximately 120,000 square feet of space at Building and Land Technology's BLT Financial Centre property at 695 East Main St. in Stamford.

The new lease will make Starwood the sole tenant in the 430,000-square-foot twin-tower One StarPoint property. State officials report that Starwood will be creating 340 new full-time jobs in the state in connection with its expansion, adding to its current 980 employee count.

“Since Starwood came to Stamford a number of years ago, the company has demonstrated their commitment to Connecticut by growing jobs, spurring economic development and, essentially, letting other large corporations know that this is a great place to work, invest and call home,” says Connecticut.Gov. Dannel Malloy. “This. is just one of the many steps we are taking to send a loud and clear message that Connecticut is open for business. Starwood's decision to continue to create good paying jobs with good benefits for residents shows that the work we are doing to attract and retain well-respected, world-leading companies is paying off.” DECD will provide a Manufacturing Assistance Act loan of up to $5 million and up to $20,000,000 in Urban and Industrial Sites Reinvestment Tax Credits (URA) to support the $30 million expansion project.

Carl R. Kuehner III, CEO of Building and Land Technology, owner and developer of the mixed-use waterfront development Harbor Point, along with Kenneth Siegel, chief administrative officer and general counsel of Starwood, announced the new lease on Thursday.

“For the past two years we have enjoyed being part of the evolution of Harbor Point, and we are excited to continue being part the transformation of this historic waterfront area,” Siegel said. “Starwood has been an early stakeholder in many destinations around the world and we are proud to be one in our new hometown as well. This expansion and the addition of 340 additional jobs is further testament to our commitment to our Stamford community and the State of Connecticut.”