A truly magnificent commercial property and revered architectural icon, Matrix Corporate Center, has acquired an outsized reputation as the Rolls Royce of commercial office buildings in the region.
Under new ownership and management since 2009, a top-to-bottom $10 million renovation has literally restored the luster to this awe-inspiring building. The property's transformation is not just skin deep. Matrix Realty Group, its new owner and manager, has been receiving acclaim for delivering on its promise to remake the property while dazzling with its "white glove" management style.
"We kept our word to prospective tenants, existing tenants and brokers," said Glen Nelson, chairman and CEO of Matrix Realty Group. "As a result of the attention we are lavishing on this unique property, other properties simply cannot top the combination of compelling space, ideal location, world-class amenities and top-flight service at Matrix Corporate Center."
"Danbury is the most business-friendly city in Connecticut," Nelson added. "The city and the Greater Danbury Chamber of Commerce are working with companies on a case-by-case basis to make relocation attractive."
Matrix Realty Group launched its ambitious renovations program shortly after acquiring the property. Since then, it has signed leases with eleven new or renewing tenants totaling 150,000 s/f. "We exceeded our initial leasing objectives by 50%, giving us tremendous momentum in our markets," said Aaron Smiles, director of operations and development for Matrix Realty Group.
While the well-publicized renovations are 85% complete, the owners are not resting on their laurels. A $500,000 state-of-the-art fitness center is now open and already counts several hundred members. Further improvements to mechanical, electrical and HVAC systems are ongoing and an environmentally-friendly solar panel system will be operational soon.
Committed to providing an unparalleled level of service, Matrix Realty Group hired property manager Mike Brown, a hands-on professional with decades of experience in real estate development and operations management. "Our experienced and talented management team is accessible and accountable to tenants and their brokers," Brown said. "We are building productive and long-term relationships to ensure our tenants' complete satisfaction at Matrix Corporate Center."
Prior to its acquisition by Matrix Realty Group, one-third of the building was unoccupied. Today, it is 75% occupied and the owner believes occupancy could reach 85% by year end. The achievement seems miraculous, leading one prominent broker to say the property has created a market in and of itself.
Guideposts' celebrated move to Matrix Corporate Center was one of the larger commercial transactions in Fairfield County in 2010. The company negotiated a 10-year lease for 55,000 s/f of newly constructed office space on the second floor of Matrix Corporate Center.
"Finding a convenient location for our 120 employees was extremely important," said Kelly Mangold, senior vice president. "The location and size of Matrix Corporate Center allowed us to consolidate our two offices in Dutchess and Putnam Counties into one new headquarters along the I-84 corridor close to the state line; the building's amenities were a big plus. We appreciate having a committed property owner and management team who were very helpful and responsive to our needs as we transitioned into our new space."
Founded by Dr. Norman Vincent Peale, author of The Power of Positive Thinking, Guideposts produces publications and other products that uplift, encourage and inspire. "Having all of our employees together in this beautiful new space helps us to collaborate more effectively and fulfill our mission of bringing inspiration and hope to people whenever and wherever they need it most," Mangold said.
Odyssey Logistics & Technology Corporation, a leading global logistics and transportation service provider, has been headquartered at Matrix Corporate Center since it was founded in 2003. Odyssey's global workforce grew from five to 650 employees in only eight years and the company recently announced top line revenue growth of 93% through May 2011 year-over-year.
Odyssey negotiated a seven-year lease for 23,000 s/f on the first floor in the center core of Matrix Corporate Center. About 80 employees work in Odyssey's newly constructed world headquarters, including the company's highest ranking executives. "Odyssey will continue to grow worldwide and in Danbury," said Cosmo Alberico, executive vice president and chief financial officer.
"The building's new owners invested time getting to know us," Alberico said. "The working relationship we established with the management team helped tremendously with the transition to our new space; they went the extra mile to accommodate our needs and we received excellent value relative to current market offerings. Matrix Realty Group lived up to its promises to upgrade the property and this factored into our decision to enter into a new lease."
General Motors Northeast Regional U.S. Sales, Service and Marketing Division made headlines when it moved to Matrix Corporate Center from Somers, N.Y. The division leased 26,000 s/f for about 80 employees, citing the building's convenient location and affordability as prime factors in its decision.
Matrix Corporate Center is comprised of an eye-popping 1.3 million s/f of Class A office space. It was constructed in 1980 as the headquarters of Union Carbide Corporation for upwards of $400 million and eventually sold and converted for multi-tenant use. Situated between exits 1 and 2 of I-84 in a wooded area, the signature building must be seen to be fully appreciated. The property features 80%-plus window exposure, 100% covered parking and around-the-clock manned security with a card access system.
Matrix Conference & Banquet Center has become a popular "go-to" destination featuring two grand ballrooms, a large auditorium seating 120, plus 23 state of the art meeting rooms. Matrix Corporate Center also offers an array of desirable amenities including a 900-seat dining facility, Perks Café, Wii recreation lounge, bank, dry cleaner, gift shop and stylist. A child care facility is planned and outdoor jogging trails, gazebos and picnic areas are being constructed.