Commercial Real Estate News
Noble Americas Leases 33,645 Square Feet at Stamford Plaza Complex
STAMFORD, Conn. – November 5, 2009 – RFR Realty LLC, owner and manager of a seven-building, 1.8-million-square-foot Stamford CBD office portfolio, today announced that Noble Americas Corp. (Noble), a wholly-owned subsidiary of Fortune Global 500 company Noble Group Ltd. (SGX: N21), one of the world’s largest commodity supply chain managers, leased 33,645 square feet at Four Stamford Plaza, located at 107 Elm Street.
The deal brings occupancy at the 15-story, 261,000 square foot building to 96%. Noble leased space on the entire seventh and a portion of the sixth floors for an 11-year term. The company will relocate from 333 Ludlow Street in Stamford to Four Stamford Plaza in March 2010 and has more than doubled its space.
Noble Group’s main activities in the Americas evolve around businesses in the US, Canada, Brazil, and Argentina. Noble operates one of the largest and fastest-growing grain and oil seeds businesses in South America and is one of the leading clean fuels, coffee, sugar, cotton, and aluminum supply chain managers in the US.
“After a lengthy evaluation of available space in Stamford, we concluded that Four Stamford Plaza was the best fit for our growing company,” said Richard DiDonna, president of Noble Americas Corp. “We are hiring many talented employees and the new location will allow Noble to expand our operations and double our existing trading floor space. Stamford Plaza is a well-located, professionally managed property with outstanding tenant amenities. We are very excited about the move.”
Brett A. Sherman, CCIM, Senior Vice President of Angel Commercial Real Estate, represented Noble in the transaction. “We were able to negotiate a very advantageous deal for Noble and take advantage of the favorable lease terms being offered by the landlord, in a premier property within walking distance to the train and downtown amenities. We toured many properties, but the overall transaction terms offered by RFR will not only satisfy Noble’s current space needs but allow for future expansion as the company continues to grow,” he said.
The landlord was represented internally by Margaret Carlson and Joseph Artusa, RFR Realty’s Stamford portfolio directors.
“We’re excited to welcome Noble Americas to our tenant mix,” said Ms. Carlson. “RFR’s portfolio of properties has enormous appeal for tenants because of the excellent tenant amenities, new property renovations, and the central business district location. Our solid ownership is a contributing factor in maintaining consistent leasing activity at the property.”
RFR Realty recently completed multi-million dollar interior and exterior capital improvements at Stamford Plaza, which is now 91% leased. Interior improvements included a redesign and renovation of the interconnecting building hallways, the addition of high-tech elevator cabs, and modernized bathrooms.
Exterior renovations consisted of the installation of a monumental stone staircase and reflecting pool on the plaza between buildings Three and Four. The driveway of Four Stamford Plaza will be expanded to allow for more curbside drop-off and multiple monument signage will be installed to create a new distinguished entrance for tenants.
“The renovations to Stamford Plaza have enhanced our position as one of the most appealing office complexes in the region,” said Ms. Carlson. “While many other landlords are postponing capital improvements, we believed it was essential– especially in a highly competitive real estate market.”
Onsite amenities at Stamford Plaza include a fitness center, conference facility, executive dining rooms, cafeteria, sundries shop, ATM, dry cleaner, car wash/detailing, and private shuttle to train station.
RFR Realty’s seven-building Class-A portfolio in Stamford consists of One, Two, Three, and Four Stamford Plaza, 177 Broad Street, 300 Atlantic Street, and Canterbury Green. RFR Realty is the largest office landlord in the Stamford CBD market.
About Noble Group
Noble Group (SGX: N21) is a market leader in managing the global supply chain of agricultural, industrial, and energy products. The Group operates from over 100 offices in more than 40 countries, serving 4000+ customers. Noble manages a diversified portfolio of essential raw materials, integrating sourcing, marketing, processing, financing, and transportation. With 2008 annual revenues exceeding US$36 billion, Noble owns and manages an array of strategic assets, sourcing from low-cost producers such as Brazil, Argentina, Australia, and Indonesia and supplying to high growth demand markets including China, India, and the Middle East. Today, Noble has interests in grain crushing facilities, coal and iron ore mines, fuel terminals and storage facilities, sugar and ethanol plants, vessels, ports, and other infrastructure to ensure high-quality products are delivered in the most efficient and timely manner to its customers.
In 2009, Noble ranked #218 on the Fortune Global 500 and achieved “Investment Grade” ratings (Baa3) from Moody’s Investors Service and (BBB-) from Standard & Poor’s, complementing its initial “Investment Grade” rating (BBB-) from Fitch the previous year. In addition, Noble appears on the Forbes Global 2000 and Forbes Fab 50 lists of leading companies. Noble Group is among the 30 securities listed on the Straits Times Index.
For more information, please visit www.thisisnoble.com.