Stamford trophy The Link leases over 300K-SF

STAMFORD, CT, July 22, 2024 – JLL announced today that it has leased 313,665 square feet of office space in a series of transactions at The Link, a trophy Class A office property at 200 Elm St./695 East Main St.in Stamford, Connecticut, owned by AM Property Holding Group and NorthEast Capital Group.

The transactions follow a $50 million renovation aimed at repositioning The Link with the most elevated amenity offering in the region. This strategic move capitalizes on return-to-work strategies that place a premium on high-quality space and robust amenities.

Nathan Wasserman, President of AM Property Holding Group, said, “Companies have embraced work strategies that provide the very best environment for their employees. As recent leasing momentum shows, our investment in providing truly amazing spaces has met the market at a pivotal time and we are thrilled to announce that we are nearing full occupancy at The Link.”

A JLL leasing team led by Managing Director Gil Ohls and Executive Vice President Matthew Felice serve as exclusive leasing agents for The Link and represented the landlord in all of the recent transactions.

A 124,180-square-foot lease by Indeed, the global job matching and hiring platform, to relocate from 177 Broad St., slated for late 2025. The company’s new global co-headquarters will house primarily sales and client success teams in custom space built out across 200 Elm St. and 695 East Main St. Indeed was represented by CBRE’s Ned Burns, Chris Mansfield and John Nugent;

Henkel, a leading global manufacturer of well-known consumer and industrial brands, signed a renewal for a reconfigured 84,046 square feet. CBRE brokers Colin Reilly and Alex Hayden represented Henkel.

Diageo, the London based beverage brand that moved to 200 Elm in 2021, signed an early renewal for its 57,551 square feet. JLL’s Drew Saunders represented the tenant.

Tax, Assurance, and Consulting firm RSM also signed a long-term renewal to stay at The Link and will continue to occupy 23,944 square feet. Richard Schuham and Connor Monahan of Savills represented RSM in the renewal.

And Ascot Group, the global specialty insurance company, renewed its 23,944-square-foot lease after initially signing a short-term deal in 2020. CBRE’s Ned Burns represented the tenant.

Ohls said, “Across the market, tenants are trading up and paying a premium for high-end space. The Link’s institutional ownership is setting the standard on positioning property to capitalize on this dominant market trend, and we look forward to leasing the remaining 46,000 square feet of available space in the now 92% leased building.”

AM Property Holding Group retained some of the region’s leading architects and designers to reinvent the amenity package at The Link as part of an overall rebranding. Locus Design Collaborative enlivened outdoor space with firepits, pergolas, a bar and grill, even a putting green.

The landscaping was redesigned by Allan Broadbent Design Studios to accommodate outdoor seating, entertainment areas and a vegetable garden that feeds the 20,000-square-foot full-service cafeteria and elevates the workplace dining experience with farm-to-table menus.

Elsewhere in the 560,000-square-foot office complex, a focus on health and wellness inspired an improved 9,000-square-foot fitness center with spin, barre and yoga classes, and a golf simulator will offer tenants a place to unwind. The package is rounded out with a free shuttle service to the nearby MetroNorth Train Station.

The Link’s leasing success comes as employers have begun to confront their real estate strategies after many months of hesitation. JLL’s Q2 2024 Fairfield office market report shows that net absorption turned positive at mid-year 2024, driven by a surge in leasing velocity within top tier office product. Roughly 650,000 square feet of transaction volume was recorded during this period, an 87% increase quarter-over-quarter. Average direct premium rents in Stamford during Q2 were $60.27 psf.