Stamford, CT (PRWEB) February 24, 2011
Choyce Peterson, Inc. (http://www.choycepeterson.com), a commercial real estate brokerage and consulting firm, today announced it has successfully completed negotiations for a new 5,000+ square-foot office for Renaissance Capital (http://www.renaissancecapital.com), the global leader in initial public offering (“IPO”) investments, research and indexing, at 165 Mason Street in Greenwich. Principals Alan Peterson and John Hannigan represented Renaissance Capital LLC.
As an integral part of the transaction to relocate Renaissance Capital from its current space at Two Greenwich Plaza, the landlord of 165 Mason Street agreed to provide a substantial contribution toward rebuilding the second-floor space to be occupied by Renaissance, which will include a ticker tape monitoring the latest stock prices on Wall Street, full-wall television screens and integrated buffet facilities. The building is located within a seven-minute walk from the Greenwich train station making the location convenient for Renaissance analysts who frequently travel to New York City for investment meetings.
William Smith, President and CEO of Renaissance Capital, said, “We’ve known Choyce Peterson for many years and think they’re the best in the business, real pros. We’re not experts at moving, and commercial real estate is a complex field, so we felt safe relying on their experience and leaving the negotiations in their capable hands.”
Alan Peterson, Principal of Choyce Peterson, added, “We knew Renaissance Capital required a first-class building to meet their unique build-out and business ‘culture’ requirements, plus close proximity to a train station for high-level clientele and commuting analysts. In addition, we all wanted to see a deal that reflected the financial opportunities that tenants expect in today’s economy but often fail to capture. In the end, we found space an existing tenant wanted to vacate, supported by a cooperative, entrepreneurial landlord who wanted the space leased for a long term.”
Peterson continued by noting his company assembled a team consisting of an architect, contractor and attorney to represent the tenant and ensure that the firm’s new office space met Renaissance’s unique needs, as it was transformed from raw space on a fast track in less than seven weeks.
In addition, Choyce Peterson also negotiated other market standard favorable terms and conditions for the tenant including free rent; upgrades to the building’s common areas and elevator cab; and reserved spaces in the building’s underground covered parking lot.
The landlord, Pascarella Mason Street, LLC, was represented by Aldo Pascarella, who said, “Tenants should not underestimate the importance of being represented by experienced, principled advisors like Choyce Peterson. We were excited about Renaissance Capital as a tenant from the beginning, but the professionalism and creativity displayed by Choyce Peterson and the team it assembled spoke volumes about the way Renaissance does business and reassured us that this tenant was worth going the extra mile for to enter into a long term lease.”
For more information, please call 203-356-9600; or write Choyce Peterson, 2001 West Main Street, Suite #250, Stamford, CT 06902.
About Renaissance Capital
Renaissance Capital, founded in 1991, is the global leader in providing institutional research and investment management services on newly public companies. Its Global IPO Fund is an open-ended mutual fund investing in a diversified portfolio of newly public companies; its comprehensive institutional IPO research service covers every U.S. initial public offering and all major international IPOs; and its global IPO indexing services are offered via a partnership with the FTSE Group (owned by the Financial Times of London and the London Stock Exchange).
About Choyce Peterson
Choyce Peterson, Inc., a commercial real estate brokerage and consulting firm, was founded in 1997 and includes offices in Stamford, CT and Rye Brook, NY. The company has negotiated millions of square feet of transactions spanning 43 states and Canada, primarily for clients based in Fairfield and Westchester County. The Choyce Peterson process delivers creative and comprehensive real estate solutions to help clients derive maximum value from their real estate decisions.
To read "Space is Money," Choyce Peterson's blog, visit http://www.choycepeterson.com/blog. For instructional articles on commercial real estate, visit http://www.choycepeterson.com/media-room/content-provision-articles.html
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