Choyce Peterson negotiates 8,245 s/f HQ lease renewal with Heartwood Partners

Norwalk, CT Choyce Peterson, Inc., has completed lease negotiations on behalf of private equity firm Heartwood Partners for their 8,245 s/f headquarters office at 301 Merritt 7. Choyce Peterson principal John Hannigan represented Heartwood Partners in this transaction.

Chief financial officer Berat Rifati recognized Heartwood Partners’ lease was coming due and they needed to update their office configuration for their changing business needs, he reached out to Hannigan to represent them. Hannigan had previously worked with the leadership of Heartwood Partners for their move to 301 Merritt 7 in 2014. After meeting, Hannigan led Berat and his team on multiple building tours throughout the city to view and evaluate all comparable spaces. Hannigan then led simultaneous proposal negotiations with several prospective landlords, including their existing landlord. Ultimately, Heartwood Partners chose to renew their lease at 301 Merritt 7. 

Merritt 7 Corporate Park’s ownership was represented by JLL’s Ed Tonnessen, Betsy Buckley, and Gil Ohls. 

The Heartwood Partners team were drawn to the location of the Merritt 7 Corporate Park within a quarter mile of the Merritt Pwky. and three miles of I-95 exit 15. As a Class A office complex, it offers amenities such as covered parking, two cafeterias and Starbucks, a fitness center, multiple conference and meeting rooms, a unisex hair salon, car washing services, ATM machines, onsite ownership and security. Additionally, there is a newly constructed glass-enclosed pedestrian footbridge at Merritt 7 Corporate Park that gives riders direct access to the platform at the new Merritt 7 Metro North Train Station.

Hannigan said, “I am pleased to have worked once again with the Heartwood Partners team to extend their lease. By negotiating a competitive rental rate and landlord funded tenant improvement funds for their lease renewal, Heartwood Partners can continue to thrive in this remarkable office complex that offers best-in-class amenities.”

Berat said, “John’s experience and insight was evident when he showed us all the available office space options in the area and skillfully negotiated lease terms that aligned with our current business needs. We're thrilled to remain in this first-class building and will certainly enjoy our redesigned office while continuing to grow our business.”