Numerous options for small and large tenants available at 1.4 million square foot Norwalk office complex
Norwalk, CT - Albert D. Phelps, Inc., the managing and leasing agent for Merritt 7 Corporate Park in Norwalk, today announced that completion of five lease transactions totaling more than 30,000 square feet, at the 1.4 million-square-foot, six building office complex. The deals consisted of new leases, renewals and expansions.
• The financial services firm Louis Dreyfus Corporation leased 4,451 square feet on the plaza level of Building 501. This is a new office location for Louis Dreyfus, which desired a separate but nearby location to its offices in Wilton. Ed Tonnessen of Albert B. Ashforth represented the tenant.
“We evaluated a variety of buildings and locations in the region,” said Mr. Tonnessen. “Merritt 7 was a good fit with the company’s image, offering an accessible location in a well-managed, newly renovated property.”
• Rocaton Advisors leased 12,511 square feet on the penthouse floor of 601 Merritt 7. The firm extended its existing lease of 9,634 square feet in addition to taking an additional 2,877 square feet of expansion space. Rocaton Advisors was represented by Gerard Hallock of Jones Lang LaSalle and Belinda Scanlon formerly of Albert B. Ashforth.
“Rocaton Advisors has been a very satisfied tenant at the Merritt 7 so naturally we’re thrilled the landlord was able to accommodate the firm’s expansion needs,” said Mr. Hallock. “It’s a well-located property that offers tenants the benefits of all new property renovations, great amenity package, and highly competitive rents.”
• Right Management Consultants Inc. renewed its lease for 8,846 square feet on the second floor of Building 301. Mitch Rarey of USI Real Estate Brokerage Services, Inc. represented Right Management.
• Verizon Wireless renewed its lease for 2,400 square feet on the third floor of Building 101. The company moved to Merritt 7 in 2005 and has extended their term 24-months prior to expiration. CBRE New England represented Verizon Wireless.
• Wells Fargo Financial, a division of Wells Fargo Bank, N.A. has extended its lease for 2,750 square feet for an additional five years in Building 301. The landlord negotiated directly with Wells Fargo’s Corporate Properties Group in Des Moines, IA on the transaction.
“Despite economic uncertainties, it is fortunately business as usual at Merritt 7,” said JoAnn Brennan McGrath, director of leasing for Merritt 7. “Securing new tenants to the mix and retaining our existing base are equally important. We remain committed to fulfilling specific tenant requirements and are dedicated to providing tenants with the finest Class-A facilities available, with technologically advanced infrastructure, a sustainable workplace environment, and superior amenity package.”
"It speaks volumes for the reputation of Merritt 7, that we can cumulatively announce new additions to our tenant roster as well as announce the firms that have chosen to expand and extend their leases here," said Margaret Egan, senior vice president of ING Clarion. “It’s rewarding to be able to accommodate the needs of each of these tenants."
There are 55,000 square feet of space comprised of units as ranging from 1,000 to 7,500 square feet available for lease at Merritt 7. In addition, there is a 66,000 square foot block of contiguous space in Building 501 available.
“It has been more than three years since a block of space of this size has been available at Merritt 7,” added Ms. McGrath. “This is a tremendous opportunity for a tenant looking for quality space on high floors with abundant lighting. Companies that need to have a competitive rental rate, in a location that is close to a strong labor pool and affordable housing have a great window of opportunity at Merritt 7.”
Merritt 7 has been recognized for its numerous conservation efforts in recent years, including becoming the first office park in Connecticut to earn the EPA’s Energy Star award in recognition of energy efficiency; achieving as one of the top 25 properties on the EPA’s Green Power Partnership list; being named the 2007 Office Building of the Year by the Southern Conn. Chapter of BOMA; and receiving both the Tri-State Five Million Mile Rideshare Challenge and Southwest Connecticut Summer Energy Savers awards.
Merritt 7 has undergone significant renovations and is continually upgraded with capital improvements. Tenant amenities include an all new dining facility, state of the art conference center and fitness center. Merritt 7 offers easy access to the Merritt 7 Metro North station and is in close proximity to major highways and area amenities.
Major tenants include Arch Chemicals, Inc., EMCOR, FactSet Research, Financial Accounting Foundation (FAF), General Electric, HEI, IPSOS, Kaiser Foundation Health Plan, Inc., Kodak, Marsh USA, Siemens, and Webloyalty.com.
Merritt 7 Corporate Park is owned by Merritt 7 Venture, L.L.C., a joint venture between New York State Teachers’ Retirement System (NYSTRS), and Fairfield Investors Inc. ING Clarion Partners, LLC, a leading real estate investment manager, offering a wide range of strategies, products and services to meet the real estate objectives of institutional and individual investors, is the asset manager.
