700 Canal Street

Active & Complete Portfolio
Partner: Gottesman Real Estate Partners
Mountain Development Corp.

700 Canal Street was recently transformed into a Class A, 90,000 SF “loft-style” office building to serve the needs of small and mid-sized tenants attracted to Stamford’s vibrant South End. Renovations included a new “glass-box” lobby as well as new common areas, building systems and parking areas. In 2012, ClearRock and a partner purchased a non-performing loan on a 4-building portfolio and completed a friendly foreclosure. In 2013 – 2014, ClearRock completed a building-wide renovation and successfully executed its lease-up strategy. In 2015, ClearRock increased its ownership stake and recapitalized the asset (together with 850 Canal and 860 Canal) alongside Gottesman Real Estate Partners and Mountain Development Corporation. The new partnership plans to hold this property long term. The complex is a mix of unique buildings located in the heart of the master-planned 80-acre Harbor Point development, adjacent to Starwood Hotels’ new headquarters and across the street from an 85,000 SF Fairway Market and nearly 2,000 new residential units.