"Quadrant's growth and recent acquisition of a competing company required them to expand their headquarters by more than 6,000 sf," says Peter Rasmusson of Grubb & Ellis' Fairfield office, who teamed with Craig Fitzpatrick to broker the deal. "The landlord's attractive terms and the size of the remaining space were a good fit."
The building's owner is KF Schoolhouse LLC, an affiliate of the Bridgewater-based SK Properties. The latter acquired the property in 2002 from an investment partnership made up of Lincoln Property Co. and Goldman Sachs for $7 million, and subsequently renovated the asset. Terms of Quadrant's expansion lease were not made available.
Built in 1979, the three-story 7 Century Dr. is now 100% leased. Besides Quadrant, other major tenants include the law firm of Fein, Such, Kahn & Shepard, and the Tactical Advantage Group, a medical consulting company.
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