The 33-acre property, located on Route 7, currently contains approximately 265,000 sf of office space in two buildings. The approvals allow the Davis Cos. to develop the 125,000-sf 40 Danbury Rd. and the 75,000-sf 60 Danbury Rd.

"We are now in the position to deliver the new buildings for occupancy within less than a year's time" says Davis senior VP David Fiore. He says that the company filed for rezoning of a 6.8 acre parcel of land at the site in July of last year and obtained the rezoning (from residential to commercial use) in November 2000 and final approval of its development plans last week.

Since acquiring the headquarters property from PE Corp. last May, the Davis Cos. has commenced a $9-million capital improvement program as part of the repositioning of the 50 Danbury Rd. building. Applera Corp., formerly PE Corp., will be relocating from that property in May. AIG Financial Products Corp. became the first major tenant to sign a long-term lease at 50 Danbury Rd. and has committed for 65,000 sf. AIG will relocate from its current offices at Nyala Farms in Westport in early 2002. The 50 Danbury Rd. building is available for occupancy as soon as this fall, Davis officials say.

The 64 Danbury Rd. building (approximately 45,000 sf) is fully leased and occupied by LaMorte Burns & Co., a shipping and insurance firm. Amenities on the campus include an outdoor clay tennis court, a basketball court, a sand volleyball court, a three-acre picnic area, and a walking/jogging trail.

"We are currently in active discussions with several prospective tenants with requirements ranging from 2,000 to 200,000 sf," says Fiore. "Wilton Corporate Park offers advanced telecommunications services and redundant power sources necessary for today's businesses."

Fiore says that the company will continue to market the 155,000 sf of available space at 50 Danbury Rd. and expects that it will not begin construction on the 40 or 60 Danbury Rd. buildings until that building is fully leased. However, he adds that if a single user wishes to relocate to one of the new buildings, Davis Cos. would be able to break ground fairly quickly on either property.

Instant Insights /

Davis Cos. Obtain Approvals for 200,000-SF in New Development

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