The hedge fund and money management firm signed the sublease transaction with Crompton Corp. Andor will sublet the entire third floor of the 605,000-sf building and a portion of the building's concourse level. Jay Hruska, executive vice president with Cushman & Wakefield of Connecticut represented Crompton in the sublease deal, which has a term of approximately 12 years. Managing Principal Patrick Robinson and Associate Jim Wenk of The Staubach Company's New York City office represented Andor Capital Management in the transaction.
Andor has offices at Citgroup Center in New York City (approximately 15,000 sf) and also has approximately 25,000 sf of leased space at 4 Stamford Place in downtown Stamford. The company is expected to take occupancy of its offices at One American Lane around the second quarter of 2003.
The space at the former headquarters of the American Can Company became available in October 2001 when Crompton Corp. announced it was embarking on a corporate headquarters consolidation program. The firm, which will be relocating its corporate headquarters to Middlebury, CT., put 290,000 sf of space it leases at Greenwich American Centre on the sublease market.
Cushman's Hruska notes that approximately 140,000-sf of the former Crompton Corp. space is still available. "We've got some people that are seriously looking at the space," he adds. However, Hruska refused to identify what firms are considering the property at the moment.
Greenwich American Centre, which is situated on the Connecticut/New York border, is located nearby the corporate headquarters of such firms as IBM, Swiss Re and MBIA. The facility has become a haven for financial services firms. Paloma Partners heads its tenant roster with 135,000 sf of space followed by Citation Shares, a subsidiary of Paul Tudor Jones, with 30,000 sf and Ken Mar Corp. with 25,000 sf.
In addition to the Crompton space, Hruska says that another 60,000 sf of space will become available at the property later this year.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
