Norwalk Hospital leases 100,000 square feet at i.park 7 norwalk in Fairfield County's largest transaction of the year April, 2007
By Alison Miller - XM Communications
Newly branded property to offer sustainable Green design with LEED Certification, extensive amenities, rents at 25% below market and large blocks of office space
NORWALK, Conn. – April , 2007 – Norwalk Hospital has leased 100,000 square feet of office space at i.park™ 7, a 402,000-square-foot office complex located at 761 Main Avenue on Route 7 at the Merritt Parkway in Norwalk, Conn, today announced Cushman & Wakefield, exclusive leasing agent for the property.
Norwalk Hospital will move administrative offices and practicioners to i.park 7 and will also establish a Wellness Center in conjunction with the property’s on-site LA Fitness health club. Norwalk Hospital, is experiencing tremendous growth resulting in the need for major expansion space. The move will take place in January 2008.
Norwalk Hospital isis joining LA Fitness at the newly branded i.park 7, which is undergoing a $50 million dollar interior and exterior makeover to transform it into a Leadership in Energy and Environmental Design (LEED) certified Green Building.
Purchased in 2006 by Greenwich-based National RE/Sources, the development will follow ownership’s “i.park” model of acquiring older corporate facilities located in strong office markets and converting them into ”intelligent” and energy-efficient buildings that can offer office rents at 25% below market. The class A office/mixed use facility will feature a sustainable design with a Green Roof, 'low 'E' Energy Star™ windows and energy efficient HVAC.
Cushman & Wakefield senior directors Maureen O’Boyle, and Gerard Lees, serve as the leasing team representing property ownership. There are currently 200,000 square feet of that can be subdivided in increments between 10,000 and 200,000 square feet.
“Corporations today want to efficiently manage occupancy costs,” said Ms. O’Boyle. “By incorporating the leading thinking in sustainability and high-performance buildings, i.park 7 tenants will experience considerable cost savings in the areas of energy efficiency and reliability.”
“i.park 7’s sizeable and efficient floor plates and proportionally high ceilings have wide appeal to tenants with large space requirements,” said Mr. Lees. “Buildings that can offer 50,000+ square foot blocks of space on a single floor are not easily found in this marketplace. And i.park 7 is the only property in the region that is equipped to provide 150,000 square feet on two floors.”
Located on 30 acres on Route 7 at the I-95/Route 7 Connector and ¼ mile from the Merritt Parkway, i.park 7 offers a private corporate campus-like setting. The tenant amenity package includes an on-site LA Fitness health club with a 25-meter indoor pool; a new bistro-style café, riverside jogging and walking paths, a tenant conference center, and shuttle service to local Metro North stations.
"Unlike a typical office park, i.park 7 will become more of a ‘lifestyle park;’ one that offers tenants a dynamic place to work with an unsurpassed amenity package," said Ms. O’Boyle. “The renovation and refurbishment in the i.park tradition will transform and reposition the property. We have received enormous tenant interest and we are currently in discussions with several companies looking for large, contiguous blocks of space.”
The trademarked i.park programTM is the primary investment vehicle of National Resources, one of the nation's leading developers of high tech-office-flex properties. For more information, visit www.ipark2000.com.
For more information on the U.S. Green Building Council and LEED visit www.usgbc.org
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Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.
