Cushman Brokers Two Lease Deals in Shelton

SHELTON, CT-While the Fairfield County leasing market has been slow of late, Cushman & Wakefield of Connecticut reports it has helped secure office space here for a division of GE Capital and for a local intellectual property law firm.

Cushman & Wakefield brokered a 16,295-sf expansion at 6 Corporate Dr. on behalf of the sub-landlord. GE Capital Card Services, a division of GE Capital, was represented by Richard F. Gretsch Commercial Real Estate and GMH Capital Partners, according to Kevin Foley, director at Cushman & Wakefield. Earlier this year, Cushman & Wakefield successfully negotiated a seven-year, 64,800-sf lease deal that brought GE Capital Card Services to 6 Corporate Dr., formally known as 4 Enterprise Dr. GE Capital Card Services is relocating from offices in Stamford, Cushman officials say.

The 6 Corporate Dr. property consists of 149,000 sf of office space. Its tenants include TranSwitch Corp. and American Skandia.

At the nearby Reservoir Corporate Centre, Cushman & Wakefield reports it has completed a deal to provide Harrington & Smith LLP with a total of 5,200 square feet of first floor office space at the office building located at 4 Research Dr. Foley represented the owner, Reservoir Corporate Group, while Tom Pajoleck of CB Richard Ellis represented Harrington & Smith. The law firm will occupy the space in July. Reservoir Corporate Centre is a 150,000-sf office complex that is home to such companies as Global Logistics Technologies, SNET Yellow Pages and NextiraOne, a provider of network solutions and services.

Foley says that the market is looking better of late in the eastern section of Fairfield County. “Though Fairfield County vacancy rates rose during the first quarter of 2002 in comparison to the same quarter of 2001, activity in Shelton has been increasing,” Foley says. “Historically, the Eastern market, which includes Shelton, Trumbull and Bridgeport, has acted as a bellwether for the Fairfield County commercial real estate market as a whole.”