Simone brings mixed-use Stamford property to 94 percent occupancy

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Simone Development Companies has brought its mixed use Stamford,
CT, property at 316 Courtland Avenue to 94 percent occupancy after signing a
new lease with Advanced Therapy and Performance.

A leading provider of physical therapy and training from
rehabilitation to elite performance, Advance has leased 12,060 s/f for a new
facility at the property.

Simone bought 316 Courtland, an old school bus garage, from White
Plains-based Baker Companies for $13.3 million in 2018 and set about adapting it
to meet market demands.

“We are pleased to welcome such a high-profile tenant as Advanced Therapy and Performance to our property, which is now almost fully leased,” said Josh Gopan, AVP of Leasing for Simone Development.

“Flexibility and Simone Development’s vision for the leasing of the property were key factors that attracted ATP to this outstanding location.”

The long-term lease brings the property to 94 percent occupancy, with only 6,000 s/f of office space remaining for lease. Franco Fellah from HK Group II, Inc. represented the tenant in the lease negotiations, while the owner was represented by Kevin Langtry of Newmark.

The property’s other tenants are Beacon Exterior Products, one of the largest distributors of roofing and building products in North America, which occupies 45,000 s/f of indoor and outdoor warehouse, distribution and office space. Amphenol Nexus Technologies, a designer and manufacturer of scientific instruments for the automotive, internet, military and wireless infrastructure markets, signed a new long-term lease of 31,134 s/f in December 2020 to accommodate a manufacturing and assembly facility.

“Advanced Performance and Therapy is a great addition to 316
Courtland’s diverse mix of thriving tenants,” said Langtry.  “Simone Development really took a creative
approach in adapting to what the market brought and has transformed the building
into a unique asset.”

The 116,500 s/f property has clear span space and ceiling
heights from 12 to 25 feet, abundant parking and ample power. The property is located
a mile from I-95 and a half mile from the Glenbrook train station.

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