Lex Corp, an electronics company, signed a 10-year, 56,500 s/f lease at 15 Progress Dr. The firm plans to relocate and consolidate its Stamford and Bridgeport offices, while expanding its force with the occupancy of the entire building in June.
Michael Dillon, vice president of CB Richard Ellis' Stamford office, represented the ownership, Lighthouse Properties, in the lease. Roger Ludwig of First Service Williams handled negotiations on behalf of Lex Corp.
"This transaction marks the largest flex space deal in the market year-to-date," said Dillon. "15 Progress Dr. offered the perfect opportunity for Lex Corp to take possession of a stand alone, single-tenant, signature industrial building situated in a park-like setting."
15 Progress Dr. is an industrial/flex building located just off Commerce Dr. in the heart of Shelton's business community. The property is accessible via the Merritt Pkwy., as well as Rtes. 8 and 108.