Rugby Realty Appoints Cushman & Wakefield Exclusive Leasing Agent For Neighboring 2 And 4 Armstrong Road Office Buildings In Shelton, Conn
citybizlist – November 16, 2015
Cushman & Wakefield announced today that it has been named exclusive leasing agent for the neighboring 2 and 4 Armstrong Road office buildings in Shelton, Conn, located in Armstrong Corporate Park. The class-A buildings, which were recently purchased by Rugby Realty, are currently undergoing a multimillion capital improvement program.
“We believe strongly in the Shelton office market,” says Rob Ades, a principal at Rugby. “We have had several tremendous projects here, leasing approximately 400,000 SF to over 98% occupancy in four buildings. With the right capital improvements, and our standard, personal involvement of ownership, 2 and 4 Armstrong will follow suit and become the next successful Rugby projects in this market.”
Rugby Realty is represented by an exclusive office leasing team of Michael Dillon, Kevin Foley and William Mercorella.
“2 and 4 Armstrong Road are fantastic buildings that offer premier office space in the Eastern submarket of Shelton,” said Dillon, a Cushman & Wakefield Director. “We’re excited about working with Rugby Realty and looking forward to collaborating on an aggressive leasing campaign. We anticipate strong interest from tenants seeking high-quality, newly renovated office space in a convenient location, with fantastic amenities.”
The capital improvements to the buildings will feature modernized lobby areas, common corridors and elevator cabs, as well as the construction of a new shared conference facility and a new fitness center at 2 Armstrong Road, which will also be available to the tenants of 4 Armstrong Road. Additionally, Rugby will install brand new HVAC units, brand new boilers, a state-of-the-art computerized Building Management Systems (BMS) and digital controls for HVAC, which will enable customizable heating and cooling in individual tenant spaces, while reducing energy consumption throughout the buildings.
2 Armstrong Road is a three-story office building totaling 93,000 square feet and 4 Armstrong Road is a four-story office building totaling 60,000 square feet. The buildings are in close proximity to Route 8, I-95 and the Merritt Parkway. Major retailers, banks, restaurants and fast food service is within walking distance or a short drive.
The year-to-date leasing in the Eastern market, which includes the Towns of Bridgeport, Shelton, Stratford and Trumbull, has seen signs of improvement, with a total of 199,884 square feet of activity, up 48% from 135,000 square feet from 12-months-ago.
Rugby Realty is a preeminent real estate company formed in 1980 with corporate headquarters in Secaucus, New Jersey. Rugby has been involved in all aspects of successful commercial real estate operations, including the purchase, development and management of a broad range of real estate holdings. It specializes in identifying undervalued properties and realizing their maximum value through skillfully conceived development and sound, ethical management.View the story here