November 17, 2004

Random House leases 42,000 s/f; Brief Article

In an important relocation and consolidation move, publishing giant Random House has leased the entire 42,235 square foot flex office building at 30 Shelton Technology Center in Shelton, CT, for a variety of office, archive storage and operational functions formerly housed in buildings in Manhattan and New Jersey.

Mark P. Boisi and Peter S. Buckley of Colliers ABR, Inc. represented Random House in the 15-year leasing transaction valued at over $ 7 million. The landlord, a partnership of Cuminotto, Inc. and Taurus Investment Holdings, was represented by CB Richard Ellis.

"This was an example of creative thinking on the part of Random House, which felt by combining multiple company functions under one roof it could reduce operating costs and, at the same time, generate more flexibility in the use of its real estate assets," stated Mr. Boisi. He said another benefit was that his client ended up with a modern building within a 75 mile radius of New York City.

The world's largest English-language general trade book publisher, Random House, Inc. is a division of Bertelsmann AG, one of the largest media companies in the world. Random House, Inc.'s publishing groups include the Bantam Dell Publishing Group, the Crown Publishing Group, the Doubleday Broadway Publishing Group, the Knopf Publishing Group, the Random House Audio Publishing Group, Random House Children's Books, the Random House Diversified Publishing Group, the Random House Information Group, the Random House Publishing Group, and Random House Ventures.

© Copyright 2008 Real Estate Weekly, all rights reserved