Choyce Peterson Negotiates Successful Renewal for R.V.I. America Insurance Company for 17,600 Square Foot Space at 177 Broad Street in Stamford

Broker Conducts Building Tours of Stamford and Norwalk While Negotiating with Company’s Current Landlord

Stamford, CT, Mar. 31, ‘11 -- Choyce Peterson, Inc. (www.choycepeterson.com), a commercial real estate brokerage and consulting firm, today announced the completion of lease negotiations on behalf of R.V.I. America Insurance Company (“RVI”), a provider of residual value insurance for banks and leasing companies. RVI renewed with its current landlord for its existing space of 17,600 square feet at 177 Broad Street in Stamford after obtaining lease modifications commensurate with its business plans. Principals Alan Peterson and John Hannigan represented RVI.    

Choyce Peterson assisted RVI by conducting three separate tours of Stamford and Norwalk commercial real estate, visiting five-to-six buildings per tour from April through September of last year. After narrowing their choices to a few select locations, Choyce Peterson also negotiated proposals for a renewal. With amenities such as a concierge, easy access to I-95 and the Stamford train station, covered parking and class A office space, renewal terms were successfully negotiated.

 Michael McGroarty, Senior Vice President, General Counsel and Secretary of RVI, said, “We instituted a rigorous process before choosing our commercial real estate broker, and Choyce Peterson stood out for its experience, service-oriented approach, knowledge and relationships in the marketplace. Their efforts on our behalf and the alternatives they offered us convinced our

landlord to provide a very competitive deal and helped us maintain our business continuity by remaining at our current location.”    

Alan Peterson, Principal of Choyce Peterson, added, “RVI required class A office with an easy commute for its employees, and we were able to leverage our relationships and knowledge of the marketplace to offer them several alternatives. As we pursued intensive negotiations with all parties, we were very pleased by the deal their current landlord decided to offer and presented it to RVI who gladly accepted.”

Peterson went on to describe the importance of pursuing marketplace opportunities for companies seeking a renewal, and the beneficial role of the building tours they conducted for RVI.

RVI is a leading niche specialty writer of residual value insurance for the commercial equipment, passenger vehicle and real estate markets.

The landlord of 177 Broad Street is RFR Realty, and the landlord's broker was Margaret Carlson.