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January 2010
11 Forest Street's retail space
will be occupied by CVS Drug Store. |
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CVS Drug Stores has signed a long-term lease for the retail space at Seaboard’s newest residential development property at 11 Forest Street. According to Sandy Goldstein President of the Stamford Downtown Special Services District (DSSD), “CVS fills a very important need in downtown-specifically an all purpose, customer friendly, well stocked drug store. There are so many people who now live and work in the downtown who will be able to take advantage of a first rate national retailer. We at the DSSD are thrilled that CVS chose to locate in the downtown.” |
Despite the current economic climate, the first tenants at Seaboard’s new luxury residential property, 100 Prospect, have already moved in and begun to enjoy the floor-to-ceiling windows and 6,000 square foot roof deck that take full advantage of its spectacular views of downtown Stamford.
The conveniently located, downtown property boasts a comprehensive list of amenities and services including a 24-Hour attended front desk with concierge services, 24-Hour emergency maintenance, controlled access garage parking, state of the art fitness center, Penthouse Level Residents' Lounge, granite kitchen countertops with stainless steel Energy Star appliances, full-size stacked washers and dryers, air conditioning, hardwood floors, marble and tile bathrooms, security system in every unit, all pre-wired for internet and cable.
This downtown commercial to residential conversion project is the first of two for Seaboard, as development continues at the urban loft project, 11 Forest. |
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February 2009
Acquisition of the 261-unit Newbury Common Apartments |
Seaboard Properties announced the acquisition of the 261-unit Newbury Common Apartments in Stamford's Central Business District. The two-building property, developed 22 years ago, features 9,000 square feet of ground-level commercial space, a 295-space underground parking facility and a list of coveted amenities ranging from an indoor pool to a screening room.
"The fact is, Newberry Common is in a good market," says Alvin Epstein, senior managing director with HFF, who facilitated financing for the project. "It's a block away from the Stamford campus of the University of Connecticut, two blocks away from the entertainment district, and it's not in an overbuilt area. There are high barriers to entry in New England and Stamford, in particular. Another important factor is it has a good leasing history and a proven track record." Presently, the community is 96 percent leased. And, as was the case with the Eisenhower Corporate Campus, the borrower's reputation went a long way. "Seaboard Properties is very well established and well respected, so it had a great deal of credibility," Epstein said. "These days, the credit of the borrower is very important." |
October 2008
John DiMenna honored at the March of Dimes 2008 Real Estate Award Breakfast
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John DiMenna, founder of Seaboard Properties Incorporated, will be honored at the March of Dimes 2008 Real Estate Award Breakfast for his outstanding commercial real estate activities that have significantly enhanced the local community. The 13th annual breakfast will be held on Thursday, December 11th at The Hilton Stamford One First Stamford Place, Stamford.
John DiMenna, founder of Seaboard Properties Incorporated, will be honored at the March of Dimes 2008 Real Estate Award Breakfast for his outstanding commercial real estate activities that have significantly enhanced the local community. The 13th annual breakfast will be held on Thursday, December 11th at The Hilton Stamford One First Stamford Place, Stamford.
The annual Real Estate Award Breakfast is the premier event for the real estate community, with an attendance last year of over 850 guests. Over the past 12 years, it has raised over $3.1 million for the March of Dimes to help fund research and education to improve the health of babies by preventing birth defects, premature births and infant mortality.
The event will take place December 11th at the Hilton Stamford. For more information, visit the March of Dimes website. |
September 2008
Seaboard Properties purchases 88 Hamilton Avenue in Stamford, CT.
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Seaboard Properties purchased 88 Hamilton Avenue, a 154,533± SF mixed-use office/flex warehouse building located in Stamford, Connecticut, comprised of 39,659± SF of office, 58,340± SF of flex and a 56,534± SF warehouse space. Originally built in 1942, the property was expanded in the 1960s and completely renovated in 2002. 88 Hamilton’s attractive architecture, distinctive mixed-use configuration, and exceptional location make it a unique and desirable facility for tenants seeking “flexible-use” buildings.
88 Hamilton Avenue is 100% leased. The 39,659 SF of office space and 51,800 SF of warehousing space are leased through 2023 by AmeriCares Foundation, Inc., a world renowned not-for-profit disaster relief and humanitarian aid organization. The office/flex space is occupied by Carolee through 2017, a maker of affordable women’s jewelry primarily distributed through department stores, and World Wrestling Entertainment through 2012. |
2007 was a landmark year for Seaboard Properties. The firm’s 15 year strategy in the Stamford commercial property market culminated in the sale of a significant portion of the office portfolio to Connecticut-based firm, Antares Investment Partners. The sale included three office properties and a 70-slip marina, totaling 305,000 square feet, including Stamford Landing and 600 Summer Street.
"The Seaboard portfolio is a marquee collection of office properties in Stamford," said James Cabrera, co-founder and managing partner, Antares Investment Partners.
Seaboard is now repositioning its portfolio to include two downtown development projects at 11 Forest Street and 100 Prospect Street.
President of Seaboard Properties, Inc., John DiMenna says, “Seaboard continues it’s commitment to Stamford and Fairfield County. However, we have diversified our portfolio during the last five years by acquiring more residential properties, liquidating a portion of our office portfolio and acquiring several redevelopment projects in downtown Stamford. And we believe that Stamford is poised to emerge not only as an independent financial center but as the major urban center within the New York metropolitan corridor.”
11 Forest Street is a downtown mixed use development comprised of urban loft style residential units anchored by ground floor retail. 11 Forest Street is located in the heart of the vibrant Bedford Street Corridor. Beautiful traditional detailing including rusticated limestone will complement the considerable opportunities for landscaping and outdoor dining. The property has the distinction of visibility on Forest Street and from Broad Street.
100 Prospect Street/Century Plaza is a conversion of an office property to residential. The project will feature two luxury residential towers that will feature luxury one-bedroom apartments, furnished and unfurnished, with full amenities.
On the commercial side, the firm purchased One Atlantic Street, a landmark eight-story office/retail property situated at the “Main and Main” in downtown Stamford. With its classic interior, high visibility and prime central location (corner of Atlantic and Broad Streets), the Property enjoys a broad and diverse tenant appeal with a mix of retail banking and office tenants. The 81,491 SF Property lies on 0.51 acres and is adjacent to much of the city’s newest developments, including the new Marriott Courtyard and Target/Citibank retail center, and across the street from the city’s longtime office/public centers, including the Ferguson Library, Landmark Square and Stamford Town Center. Seaboard will relocate its corporate headquarters to the Property in 2008. |
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