Steel Rises on 360,000-SF Spec Office Building in Norwalk

Carl R. Kuehner, president and chief executive officer of Building and Land Technology, is bullish on the leasing prospects for his firm's spec building. "901 offers the best commute in Fairfield County," he says. "That, combined with the highest quality construction, state of the art technology and generous, direct access garage parking--in a campus setting which has already attracted the corporate headquarters for Diageo and Hewitt--will certainly prove compelling for many tenants."

Paul Keuhner, chief financial officer for Building and Land Technology, adds, "We anticipate a strong demand for 901 Main Ave." Company officials say the firm is in active negotiations with a number of tenants, but that no lease deals have been signed as yet for the property that is expected to be finished by August 2005. Building and Land Technology has developed and owned more than $1 billion of real estate including more than two million sf of office space, 2,500 apartments and condominiums and 500 single-family homes.

Norwalk Mayor Alex A. Knopp notes that the progress made on the speculative 901 Main Ave. building "marks a significant milestone in further transforming Norwalk into one of Connecticut's premier corporate locations." Some of the recent businesses that have set up operations in the city include: Fact Set Research Systems, GE Capital, Marsh Inc., as well as Diageo and Hewitt Associates at the Towers at Merritt River development.

Construction began on the 901 Main Ave. building earlier this year. Work is just about complete on the Diageo building. However, Diageo is in the midst of performing tenant work at the property and is not expected to take occupancy until the first quarter of 2005. The worldwide beverage company is shifting operations from Stamford and White Plains, NY to the Norwalk building.