Emcor Group, a Fortune 500 company with nearly $6 billion in annual revenues, currently occupies the entire sixth of Building 301 and will now also take space for a portion of the fifth floor. Emcor's new lease at Merritt 7 was signed 15 months before its prior lease was set to expire, Albert D. Phelps officials say.

"We're pleased to have been able to accommodate Emcor's additional corporate headquarters space needs," says JoAnn Brennan McGrath, director of leasing for Merritt 7. "Tenant retention is a top priority at Merritt 7 and we are committed to fulfilling each specific requirement. These efforts include restructuring deals and offering companies the flexibility to grow within our complex."

In fact, to make the new deal work, the ownership of Merritt 7 negotiated an early buyout with LaSalle Bank for the expansion space Emcor required. The property is owned by Merritt 7 Venture LLC, a joint venture partnership between the New York State Teachers' Retirement System and Fairfield Investors. ING Clarion Partners LLC, is the asset manager for the complex.

Christopher O'Callaghan, a senior director with Cushman & Wakefield who represented Emcor in the transaction, says, "Emcor is dedicated to providing its employees with the finest facilities available, with technologically advanced infrastructure, a sustainable workplace environment, and superior amenity package. The landlord was extremely accommodating in providing the necessary expansion space for Emcor, having crafted a deal that worked for all parties involved."