AP NEWS

McDonald’s signs downtown Stamford office lease

February 18, 2019

STAMFORD — McDonald’s Corp. signed a lease in the past quarter for downtown offices that would include a training center, according to a new report by the Stamford Office of Economic Development.

The fast-food giant is taking about 14,600 square feet at 695 E. Main St., a building topped by a clock tower. It joins professional-services firm Deloitte, which has operated regional offices there since late 2014, taking about 120,000 square feet.

Building and Land Technology, the Stamford-based developer that owns 695 E. Main and the adjoining office building at 200 Elm St., declined to comment on the McDonald’s lease.

Messages left for McDonald’s were not returned.

Chicago-based McDonald’s operates with more than 37,000 locations worldwide, including two Stamford restaurants — at 25 Bedford St., and 1103 E. Main St.

Last year, the company relocated its headquarters to Chicago from suburban Oak Brook, Ill., after having operated in the latter location since the early 1970s.

McDonald’s joins three other recent recruits to the 695 E. Main-200 Elm complex, which covers nearly 600,000 square feet. IT firm CA Technologies, hedge fund Tudor Investment Corp., and Webster Bank signed leases last year totaling about 75,000 square feet.

Consumer-goods conglomerate Henkel and professional-services firm RSM are also tenants at 200 Elm St.

In 2017, Henkel relocated its North American consumer-goods headquarters to 200 Elm St., from Scottsdale, Ariz. It occupies about 155,000 square feet.

The same year, RSM moved its Stamford offices to 200 Elm St. It takes nearly 30,000 square feet.

In total, BLT has leased about two-thirds of the space at 695 E. Main-200 Elm.

BLT acquired the property in 2012, following the relocation of reinsurer Gen Re, which is now headquartered at 120 Long Ridge Road.

Citywide, Stamford’s office vacancy rate last year ran between about 25 percent and 30 percent, according to several commercial real estate firms’ measures.

The approximately 700,000-square-foot office complex at 677 Washington Blvd., comprises the largest vacant block. It is mostly empty, except for ground-floor offices recently taken by architectural firm Perkins Eastman.

Professional-services firm KPMG plans to relocate its Stamford offices later this year from the edge of the city center, at 3001 Summer St., to 677 Washington Blvd.

The city’s second-largest office vacancy is the about 470,000-square-foot Silicon Harbor campus at 1 Elmcroft Road in the city’s South End. It is leasing a portion of its space to Westover Magnet Elementary School, which has been displaced this school year by mold infestation at its main building.

pschott@scni.com; 203-964-2236; twitter: @paulschott