Thank you for sharing!

Your article was successfully shared with the contacts you provided.

STAMFORD, CT-Cushman & Wakefield was appointed exclusive agent by Pitney Bowes for the sale of its “main plant” complex located in the South End Peninsula section of the city. The 22-acre property, which includes approximately 800,000 sf of existing office and manufacturing space in several buildings, was the headquarters for Pitney Bowes from 1920 to 1985 when the firm relocated two blocks away to its current corporate headquarters building at One Elmcroft Rd.

The company said earlier this year that manufacturing operations at the main plant complex will cease by year’s end. Cushman officials say that most of the office staff at the main site complex have already relocated to the company’s headquarters building or other Pitney Bowes office locations in Connecticut. The property is situated at the intersection of Washington Boulevard and Atlantic Street, near the Stamford train station and extends to Stamford Harbor in the city’s South End section and is just one block from Long Island Sound.

The master plan for most of the property–more than 19 acres–revised recently by the City of Stamford to allow for mixed-use development of residential housing, retail and other uses such as: medical, government, industrial and flex. The Pitney Bowes property has recently been renamed Peninsula Bay.

“Redevelopment of the main plant site into an exciting mixed-use development, including significant new housing, will be a welcome addition to Stamford’s South End neighborhood,” states Mayor Dannel P. Malloy. C&W’s Metropolitan Area Financial Services Group is charged with marketing the property and finding a buyer. C&W’s James Fagan and Patrick Colwell of Cushman & Wakefield of Connecticut, as well as Andrew Merin, David Bernhaut of the firm’s New Jersey office and Jamie Covello, who is based at the company’s New York City headquarters, are working on the project.

“We expect this offering to attract multiple offers from regional and national investor/developers,” says Colwell, a senior director with C&W. “It is extremely rare to have a development parcel of this size, scope and unsurpassed location available in lower Fairfield County.” Colwell adds that C&W plans to select a buyer/developer for the property by no later than November of this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.