The firm initiated a search for larger office quarters earlier this year. Michael H. Siegel and Jon C. Sarkisian of CB Richard Ellis, Inc. represented IMS Health in the transaction.
"While our Fairfield location has served us well, we had limited room to grow as we continue to build our business worldwide," says Robert Koslosky, senior director of real estate for IMS.
IMS is a leading provider of market intelligence to the pharmaceutical and healthcare industries. The firm operates in more than 100 countries and posted more than $1.8 billion in revenues in 2005.
The 901 Main Ave. building, which was completed earlier this year, totals 348,000 sf and is part of Building and Land's Towers corporate campus, which houses Diageo's North American headquarters and the regional headquarters for Hewitt Associates.
Other tenants at 901 Main include GE Commercial Finance, which occupies approximately 90,000 sf, and Carlson Marketing Group, which leases about 65,000 sf. Earlier this year, Building and Land moved its operations to 7,000 sf in the building.
In the past five years, Building and Land has either acquired or built about 1.5 million sf of office in Norwalk. Since its founding, the firm has developed or owned more than $1 billion worth of real estate including more than two million sf of office, 2,500 apartments and condominiums and 500 single-family homes.
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