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River Plaza Summary
River Plaza, purchased in 1999, is a nine-story, 201,285-square-foot office building completed in 1982. The large floor plates make it suitable for both single and multple tenant configurations. A major capital improvement program replaced the roof and HVAC systems and upgraded elevators, lobbies and restrooms. The cafeteria and cafeteria seating area were also renovated.
Building Features
The perimeter of this lift slab building features aluminum panels and 5-foot-by-5-foot glass panels that yield exceptional views of downtown Stamford, the University of Connecticut Stamford campus, Long Island Sound, the Mill River and Mill River Park. There is covered parking for approximately 2.5 spaces per 1,000 square feet of rentable space.
Investment Strategy
River Plaza was a distressed property when Property Group Partners joined with partners to acquire it. The partners, who had provided financing, asked Property Group Partners to apply its management and operational systems to the property that was repositioned and leased.
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Location
9 West Broad Street
Stamford, Connecticut Building Specifications
201,285 SF
Nine Floors Typical Floor 23,800 SF Property Group Partners Role
Acquisition
Property Owner Construction Repositioned Property Management Building Status
Sold in 2007
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