Gensler Selected for Merritt 7 Transformation
Award-winning architecture design firm will reimagine Fairfield County’s largest corporate park
Commercial real estate investment management firms Clarion Partners, LLC and Marcus Partners announced that they have retained Gensler, the global architecture, design and planning firm, to spearhead an extensive renovation to the interior and exterior common areas and amenities of Merritt 7’s Buildings 501 and 601. The six-building, 1.4 million square foot property, owned by an institutional client of Clarion Partners and managed by Marcus Partners, is currently 97% leased, and will have a large block of availability in both buildings in 2019.
“We are excited to revisit the design and offerings at the south end of Merritt 7, building on previous successful improvements elsewhere in the park, to offer a premier office experience that today’s discerning companies demand,” said Margaret Egan, Senior Vice President, Asset Management, Clarion Partners. “The Gensler team is at the forefront of design and understands our vision for the property as well as current trends in the office sector, and will execute an innovative design that mirrors traditionally urban concepts in a growing suburban market. “
“Fundamentally, the way people work today has evolved dramatically, and design plays a critical role in the office experience, employee recruitment and tenant retention. Our goal is to create interior and exterior experiences for tenants that create shared environments that encourage connectivity, productivity and aspiration,” said Thomas Vecchione, Principal and Design Director, Gensler. “We look forward to collaborating with Clarion Partners and Marcus Partners to bring our global expertise and vision to the Merritt 7 project.”
Merritt 7 is uniquely positioned to attract diverse tenants including creative, technology, media, financial and corporate service companies. Located on 22 acres at the crossroads of the Merritt Parkway and Route 7 in Norwalk, the major north-south and east-west arteries, Merritt 7 is a transit-oriented property with easy access to the entire New York City metro area. In addition, nearly 750 residential rental units are being constructed within walking distance of Merritt 7, creating a live-work-play environment that especially appeals to the millennial workforce. Current tenants at Merritt 7 include Datto, Hearst, EMCOR, Ipsos, Newell Brands, Kantar, Xerox, and Aon.
“Merritt 7 has maintained nearly full occupancy and has successfully built a solid tenant base of companies with employees who either already live in the area or are drawn by a more favorable work-life balance that can be found here compared to an urban environment,” said David Fiore, Principal, Marcus Partners. “The Gensler-led redesign of the property is sure to attract and retain top talent seeking the same advantages.”
Recent improvements to Merritt 7 include renovated lobbies and public spaces, dining facilities and cafés, fitness and conference centers. The property offers a host of highly sought-after amenities to help tenants achieve work-life balance, including expanded dining and café options, car wash, hair salon, dry cleaning and shoe repair services, yoga and meditation classes. A number of social and community engagement programs, including American Red Cross Blood Drives and the 2018 Corporate Fun Run, are offered throughout the year.
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 more than 36 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With more than $45.6 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 300 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Marcus Partners
Marcus Partners is a value-oriented real estate investment, management and development firm based in Boston, Massachusetts with additional offices in Metro New York and Washington D.C. The firm invests in real estate and related assets, pursuing a mix of strategic and opportunistic investment strategies. Marcus Partners has built its reputation as a real estate investment firm grounded by a deep belief in value investing and is experienced in the complexities of real estate and capital markets. It currently owns, manages, or owns and manages a diversified portfolio that includes approximately 7 million square feet of office, medical office, research and development, warehouse and industrial properties located along the East Coast. For more information please visit www.marcuspartners.com.
About Gensler
Gensler is a global architecture, design, and planning firm with 44 locations and more than 5,000 professionals networked across Asia, Europe, Australia, the Middle East and the Americas. Founded in 1965, the firm serves more than 3,500 active clients in virtually every industry. Gensler designers strive to make the places people live, work and play more inspiring, more resilient and more impactful. More information about the firm is available at www.gensler.com.
