Global Media Company Takes 66,530 Square Feet for its Leading Magazine Marketing Division, Synapse Group, Inc.
Savills Studley announces that global media company Time Inc. has signed a long-term lease for 66,530 square feet at 225 Highridge Road in Stamford, CT for its multi-channel marketing group, Synapse Group, Inc., the largest consumer magazine subscription marketer in the U.S.
Synapse Group, Inc., which boasts more than 170 professionals, focuses on creating, executing and sustaining winning marketing programs tailored to its clients, including its parent company, Time Inc. According to Savills Studley Executive Vice President Matthew Barlow, who represented the tenant in the negotiations alongside Executive Managing Director Howard Nottingham and Senior Managing Director Craig Lemle, the media company considered multiple office space configurations, on and offsite, before signing an early renewal and lease restructure at its existing location.
“Time Inc. began its strategic planning well in advance of its lease expiration, a strategy that always pays off,” said Barlow. “In this case, Time Inc. considered various scenarios to refresh the space to meet the company’s new workplace standards that provide a more collaborative, efficient workplace in line with the rest of the brand. It permits Time Inc. to customize and define its occupancy as it sees fit, from as large as its current 77,000 square feet down to 57,000 square feet.”
The landlord, RXR Realty, was represented by Greg Frisoli of NGKF and in-house by Joel Cardillo.
Along with Chairman & CEO Mitchell Steir and President Michael Colacino, Savills Studley has advised Time Inc. on numerous transactions, including its 1.75-million-square-foot headquarters restructure at 1271 Avenue of the Americas / 135 West 50th and its most recent 700,000-square-foot relocation to Brookfield Place.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals in over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
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