Clarion Partners, LLC and Marcus Partners announced over 64,000 square feet of newly signed leases at Merritt 7 Park in Norwalk, CT, including Kantar Group, a global data and marketing company, forest industry group Metsa, and Paris-based Ipsos, a leader in market research and consulting. The deals mark over 115,000 total square feet of completed lease transactions over the past 12 months at the Fairfield County office campus.
Kantar and Metsa both signed new seven-year leases, with Kantar retaining 19,623 square feet of space in Building 401, and Metsa remaining in their 10,913-square-foot unit in Building 301. IPSOS will be relocating from Building 301 to 10,575 square feet of new space in Building 501. Other tenants signing new leases include Victory Capital’s extension for 3,977 square feet, Apex Technology Services’ 3,489-square foot renewal, and VIA, which also renewed their 1,970-square foot lease.
Cushman & Wakefield’s Steve Baker represented Kantar and Metsa, while IPSOS was represented by Chris Helgesen and Kevin McCarthy of Cushman & Wakefield, and Apex was represented by Kathleen Fazio, also from Cushman & Wakefield. Ownership was represented by David Fiore and JoAnn McGrath of Marcus Partners as well as by JLL’s Ed Tonnessen, Betsy Buckley, and Gil Ohls in all transactions.
“I believe Merritt 7’s steady leasing activity over the last year demonstrates that institutionally owned and operated properties with modern and practical amenities will continue to retain and attract tenants. Ownership’s on-going commitment to providing state-of-the-art business environments remains steadfast, and office users in this market are taking notice,” said Margaret Egan, Clarion Partners’ Senior Vice President of Asset Management.
George J. Perham, Principal and President of VIA, shared his excitement about renewing at Merritt 7. “We have been a tenant at Merritt 7 since 2011 and are delighted to announce our renewal. In the past 12 years, we have expanded and/or relocated three times, and each time, the Merritt 7 team was very accommodating to assist us in meeting our needs. The Park continues to make improvements and additions to the amenities both internally and externally, to stay current with the needs and demands of today’s tenants.”
Over the past two years, Merritt 7 has embarked on an extensive and continuing upgrade program encompassing the entire 1.4 million square foot campus, as part of Ownership’s broader goal of creating a modern, adaptive, and wellness-focused business environment. These initiatives have included wellness areas, flexible meeting spaces, and curated tenant programming, such as philanthropy, fitness and social events at the various cafés and outdoor seating areas throughout the park.
In total, Merritt 7 has over 60,000 square feet of curated outdoor amenity space, and more than 10,000 square feet of flexible indoor work and meeting space, allowing tenants to scale their operations without having to expand their rentable footprint or seek additional off-site space.A new town square conference center and pre-function area, as well as a new state-of-the-art fitness center, are set to open at Building 301 in Q4 of this year.
Merritt 7 has also earned key industry certifications and designations, including LEED Gold Certification* from the
U.S. Green Building Council and WiredScore Gold** at buildings 501 and 601, along with a FitwelTwo-Star rating*** for the entire six-building 1.4-million square foot office. The newest additions to Merritt 7’s wellness and sustainability offerings include a rooftop beekeeping installation through Best Bees, as well as new EV charging stations. Merritt 7 also has the unique honor of having its own new dedicated on-site Metro North station, which is currently undergoing construction and slated to open in 2024. For more information, visit merritt7.com.
*LEED Existing Buildings + Operational Maintenance certifications are issued by the U.S. Green Building Council (USGBC) at the time of building development or major renovation and last in perpetuity. Merritt 7 buildings 501 and 601 received Gold certifications on August 2021. Properties must pay registration and certification fees to pursue LEED certifications.
** WiredScore certifications are issued by WiredScore on a rolling basis, and properties must re-certify to maintain certification standing. Merritt 7 is WiredScore Gold certified through November 2023. Properties must pay registration and certification fees to pursue WiredScore certifications.
*** Fitwel certifications are issued by The Center for Active Design (CfAD) on a rolling basis and are valid for three years. Properties must re-certify to maintain certification standing. Merritt 7 received a Fitwel Two-Star rating in September 2021. Properties must pay certification fees to pursue Fitwel certifications.
About Clarion Partners
Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for over 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $79.8 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to approximately 500 domestic and international institutional investors. Clarion Partners is an independent subsidiary of Franklin Templeton. More information about the firm is available at clarionpartners.com.
About Marcus Partners
Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management, and development. The firm is headquartered in Boston, with regional offices in Metro New York City and Metro Washington, D.C. The firm focuses on strategic and opportunistic investment strategies across industrial, multifamily, life science, office, and other property types where it can create value and maximize risk- adjusted returns. Marcus Partners and its affiliates owns, controls, operates or is developing 8M+ square feet of real estate and 1,900+ multifamily units. For more information, please visit www.marcuspartners.com.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people, and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
