Real estate investment management firms Clarion Partners and Marcus Partners, have commenced on a substantial, multi-year capital improvement program that will enhance both the interior and the exterior of Merritt 7 Corporate Park. Merritt 7 is a six-building, 1.4 million s/f class A office property.
"Merritt 7 is a LEED certified complex with a highly-improved and well-maintained infrastructure" said Margaret Egan, senior vice president, Clarion Partners.
"Merritt 7 has long been known as best-in-class for Fairfield County office parks and it is our mission to see that it remains the region's market leader in class A space," said David Fiore, principal, Marcus Partners.
The renovation program will focus on upgrades to the interior and exterior common areas such as seating plazas, entryways, main lobbies, corridors and restrooms. At the same time, the property's amenity base will be enhanced and the infrastructure developed further. The project began in earnest earlier this year with the opening of a Starbucks café in Building 501. At the same time, construction began on an executive conference center in Building 101 as well as a park-wide state-of-the-art security system with a central command station in 401.
In Building 301, home to the park's central amenities, the main lobby will undergo a significant transformation which will include all new finishes, the addition of another Starbucks café, as well as an executive dining/conference room. Also part of the project are upgrades to the existing full-service cafeteria and conference center plus an expanded/remodeled fitness facility.
Main lobbies, common corridor and restrooms in 301 and other buildings will also be refreshed or renovated, in line with the park's new finish standards. Planned improvements to the grounds include enhanced landscaping, new plaza lighting, outdoor furniture and seating areas and updated signage.
The property improvements are expected to be completed by mid-2013.
"Tenants understand that the true cost of occupancy is not just figured into the price per square foot, and take into account the whole package and the daily work experience offered," said JoAnn McGrath, Marcus Partners' director of leasing for Merritt 7.
Corporate Planning Group (CPG) of Stamford has been retained to oversee the architecture and design implementation of the building improvements, and Landgarden Landscape Architects of NYC will manage the property landscaping.
The CBRE brokerage team of Tom Pajolek, Robert Caruso, Steven Greenbush and Ned Burns serve as the property's leasing agents, in conjunction with the Clarion Partners and Marcus Partners executive management team.