Cushman & Wakefield, which represented Dimensional Media in the transaction, reported the lease deal. Dimensional Media recently will soon relocate its operations from Manhattan to the Norwalk property, according to Kevin Foley, a director with Cushman & Wakefield. The Merritt on the River complex is a six-story building that sits on two acres of land adjacent to Route 7 and the Merritt Parkway and totals 239,000 sf of space. No terms of the lease were released at press time.
"The company was previously located in New York City, but decided to relocate and expand to Norwalk. The new Glover Avenue location comprises both headquarters and lab space for research and development," Cushman & Wakefield's Foley says.
The company recently unveiled "DepthCube," a completely new 3D Display technology. The positive market reaction to the product played a role in the company's decision to relocate to Norwalk, company officials note. Dimensional Media Associates, founded in 1994, produces 3D visualization solutions. The "DepthCube" 3D Display is scheduled for commercial production in late 2002.
"A major influence on our decision to relocate to Connecticut was the vast pool of talent based in the area – including optical and electrical engineers as well as technology product managers," says Jeff Kiesel, chief executive officer of Dimensional Media Associates. "As Dimensional Media continues to grow, we will be looking and drawing from that talent base to enhance our current capabilities," he adds.
The company currently employs approximately 20 people, and hopes to expand its staff to 30 employees at its new Norwalk location in the near future.
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