°
High: °
Low: °
Wind:
Chance of precipitation:

Forecast

close
Tuesday, June 27 Business

Real estate investment firm set to relocate to downtown Stamford

STAMFORD — Real estate investment firm Waypoint Residential plans to make a crosstown move this summer to accommodate its growing operations.

Waypoint has signed a lease to take about 11,500 square feet on the eighth floor of the 9 W. Broad St. office building on the edge of the downtown. Executives of Waypoint are targeting a relocation by mid-July from their current Stamford offices, which cover some 5,000 square feet at 2200 Atlantic St., in the South End.

“We loved our experience at 2200 Atlantic, but unfortunately there wasn’t enough space in the building to expand,” said Peter DiCorpo, Waypoint’s Stamford-based chief operating officer. “Nine West was a great option after looking at a number of properties in Stamford. We love its location relative to downtown and Mill River Park. It allows us to really grow effectively and intelligently.”

Waypoint’s new offices, which overlook Mill River Park and take up about half of the eighth floor, will bring together the firm’s 15 operations-focused employees who already work in Stamford and nine colleagues from Waypoint’s accounting department now working in Manhattan. The new complex will also give the company enough space for future hires.

“We’ll absolutely need that additional square foot age to accommodate the growth,” DiCorpo said.

Founded in 2011, Waypoint has operated its Stamford offices for a couple of years at 2200 Atlantic St. The firm also maintains offices in Boca Raton, Fla. — the base of CEO Scott Lawlor — and hubs in Atlanta, Chicago, Dallas and Denver. In total, the firm employs about 70.

Waypoint’s investment activity during the past five years has totaled approximately $2 billion, according to company data.

The addition of Waypoint brings 9 W. Broad St.’s occupancy rate to about 80 percent, the latest stage in a revival of a building that was mostly empty before it was bought for $14.5 million in March 2013. Owners Westport Capital Partners and Forstone Capital subsequently embarked on a renovation worth more than $20 million.

Commercial-real estate firm Rhys’ Christian Bangert and Cory Gubner represented the owners, while Edward Tonnessen, of Jones Lange LaSalle, represented Waypoint.

“Nine W. Broad St. has been an extremely successful office building repositioning within the CBD and continues to attract some of the best companies in the market” Cory Gubner, president and CEO of Rhys, said in a statement. “The leasing velocity we have accomplished at the building has outperformed the market by a long shot, and we couldn’t be more pleased with the results.”

Rhys is headquartered at 9 W. Broad St. and has brokered the 25 leases that have been signed at the office complex since its 2013 sale.

pschott@scni.com; 203-964-2236; twitter: @paulschott

loading