Building and Land Technology Announces Expansion of Starwood Hotels & Resorts at Harbor Point in Stamford; 430,000-SF Lease Signed to Expand Global Headquarters Office and Long-Term Commitment to Connecticut

STAMFORD, Conn., May 22, 2014 /PRNewswire/ -- Building and Land Technology announced today that Starwood Hotels & Resorts Worldwide, Inc. has signed a new 430,000-square-foot, 20-year lease for its expanded global headquarters at One StarPoint in Harbor Point, renewing and significantly growing the company's long-term commitment to Stamford and the State of Connecticut.  Carl R. Kuehner III, CEO of Building and Land Technology, owner and developer of Harbor Point, the transformative mixed-use waterfront development in Stamford where One StarPoint is located, made the announcement, together with Kenneth Siegel, Chief Administrative Officer and General Counsel of Starwood.

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Starwood, one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, relocated its global headquarters to Connecticut in January 2012, bringing more than 800 jobs to Stamford.  The new lease will enable Starwood to accommodate 1,320 jobs at One StarPoint versus at one of Starwood's other locations. The State of Connecticut provided Starwood with tax credits and financing incentives in support of the company's plans to expand and add the additional jobs.

Harbor Point continues to serve as a powerful engine for economic development in Connecticut.  The master-planned development by Building and Land Technology offers Class A office space to attract and retain major corporations, as well as abundant residential and retail space to create a 24-hour live/work environment that appeals to the modern workforce.

"For the past two years we have enjoyed being part of the evolution of Harbor Point, and we are excited to continue being part the transformation of this historic waterfront area," said Mr. Siegel. "Starwood has been an early stakeholder in many destinations around the world and we are proud to be one in our new hometown as well.  This expansion and the addition of 340 additional jobs is further testament to our commitment to our Stamford community and the State of Connecticut." 

"We remain focused on attracting major corporations to Connecticut," said Mr. Kuehner, who has overseen the development of Harbor Point into a successful modern waterfront mixed-use project, built on former industrial land that sat dormant for decades.  "Corporations like Starwood drive our region's economic growth, so we strive to meet their needs and make it an easy decision to locate here at Harbor Point."

Constructed in 1989 and renovated in 2011, One StarPoint is a 430,000-square-foot Class A office property consisting of two towers.  Starwood currently occupies 300,000 square feet, and under the new lease will be able to expand into additional space as it becomes available.  Situated adjacent to several commercial and residential properties within Harbor Point, the property provides Starwood's expanding workforce with immediate access to retail stores, restaurants, and luxury residences developed by Building and Land Technology.  One StarPoint also benefits from its waterfront location, offering views of Long Island Sound as well as a 32-slip marina on site.  Other amenities included two private fitness centers, a 140-seat cafeteria, and shuttle service to the Stamford Transportation Center, just a short ride away.

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

About Building and Land Technology (BLT)
Building and Land Technology (BLT) is a privately held real estate private equity, development and property management firm.  Founded in 1982, BLT is vertically integrated and has invested, developed, owned and managed over five million square feet of commercial space and over 10,000 residential units.  BLT is one of the largest office landlords in Connecticut, and its office holdings include the corporate headquarters for Gen Re, GE Commercial Finance, Diageo, GE Real Estate, Xerox, GE Energy, Design Within Reach, Kayak Software, AON/Hewitt, Starwood Hotels and Resorts, and Structured Portfolio Management.  BLT is the developer of numerous residential, commercial, and mixed-use projects, including Harbor Point, a transformative mixed-use development in Stamford, CT (www.harborpt.com).  One of the largest redevelopments on the eastern seaboard, Harbor Point encompasses an entire neighborhood, with a full mile of waterfront, more than 4,000 residential units, and several million square feet of commercial development.  BLT's holdings include more than 100 active real estate companies, a majority interest in William Pitt Sotheby's residential brokerage firm with 28 offices and 1,100 agents, a mortgage and insurance company, and numerous private equity investments.  http://www.bltoffice.com/

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SOURCE Building and Land Technology