Norwalk, CT Following the completion of significant capital improvements, The Davis Companies has executed 27,600 s/f of new leases with non-profits, tech tenants and consumer goods manufacturers at 40 Richards Ave., a 146,000 s/f office building located off of I-95 along the CT Tpke., close to retail and restaurant destinations. Among the tenants executing new commitments at the building are:
• Fairfield County Community Foundation, a local organization that promotes philanthropy as a means to create change in Fairfield County, focusing on innovative and collaborative solutions to critical issues impacting the community, signed a long-term 10,760 s/f lease with TDC. The Community Foundation moved into their new space in June.
• Potoo, an e-commerce software firm, is recommitting to the building by extending its lease and expanding its existing space to occupy a total of 9,791 s/f this month. The firm was represented by Colin Reilly of CBRE.
• L’Amy Inc., a leading fashion accessories provider, signed a long-term 7,125 s/f lease with TDC, and will occupy their new space in December. L’Amy Inc. was represented by John Hannigan of Choyce Peterson.
“We are always looking at new ways to add value to our buildings and improve the tenant experience,” said David Allen, vice president of asset management at TDC. “These new leases affirm that our work is resonating within the market, and that the existing tenants are exceptionally pleased. We are proud to provide our new tenants as well as the entire Norwalk community with a vibrant facility for its businesses to thrive.”
TDC purchased the property in July 2013, immediately executing a capital improvement plan to add to the uniqueness and vibrancy of both the common and tenant spaces. Improvements to the building included an upgraded and expanded cafeteria; a new fitness center; a new visitor parking area; upgraded lighting throughout the building to complement and enhance the existing natural light; enhancements to the bathrooms on all six floors; and improvements to the 4th and 6th floor common areas. TDC also introduced a new complementary shuttle service to transport employees to and from the South Norwalk Train Station.
Committed to excellence in both investment performance and operations, TDC is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows TDC to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, TDC currently owns a real estate portfolio of 12 million s/f across the Eastern United States.
