Publisher Signs Major Lease Renewal in Norwalk

The lease is for Reed Elsevier's Reed Exhibitions division, which produces and manages trade shows and conferences. Reed has been at MerrittView since late 1994, initially leasing 62,000 sf, and subsequently expanding to 90,000 sf for extended lease terms that had been scheduled to expire between December 2007 and January 2010, W&M Properties officials say.

"In making the decision to renew our lease at MerrittView, we balanced several factors, including serving our current and future space needs, close proximity to major transportation hubs, including airports and rail options, and future financial considerations and the expected growth of our business," says Chet Burchett, president, Reed Exhibitions Americas. "We were able to meet those criteria while minimizing disruption in the lives of our 300-plus employees headquartered and living in the general Norwalk area."

Jeffrey H. Newman, executive vice president of W&M Properties, notes that "Although the terms of lease for their spaces would not have expired until between late 2007 and early 2010, we proactively reached out to Reed Elsevier's representatives in early 2005, to determine whether and how best we could continue accommodating both their current occupancy requirements and long-term growth plans."

Reed Elsevier was represented in lease negotiations by Howard S. Fiddle, vice chairman of CB Richard Ellis, along with Len DiMicelli, Robert Martin, and Steven Greenbush, also of CBRE. Newman and Kathleen A. Caracappa, senior leasing associate of W&M Properties, negotiated for the building. W&M is the acquisition, management and marketing arm of the Malkin family.

Other major tenants at MerrittView include: Nestlé, Cisco Systems, CIT Group, SunGard, EMC, Foster's Wine Estates, Wells Fargo, Information Resources, and AT&T.