Information Tech Firm Signs 100,000-SF Lease

NORWALK, CT—Thanks to approximately $5 million in state incentives, information technology company Datto, Inc. has signed a lease for 100,398 square feet of space at the Merritt 7 Corporate Park complex here for its global headquarters. The deal is the largest lease transaction thus far in 2014 in Fairfield County, CT.

The state loan was approved by the Connecticut Department of Economic Development and the state Bond Commission last month, according to published reports. The lease deal announced by Clarion Partners and Marcus Partners calls for Datto, a backup, disaster recovery and business continuity solution provider, to occupy the entire fifth, sixth, and seventh floors of Building 101 Merritt 7 for an 11-year term.

“Datto is a global company, and we are pleased that we found a way to keep our corporate headquarters in Connecticut,” says Austin McChord, Datto Founder and CEO. “After a thorough search of options in the office market, we ultimately decided that Merritt 7's central location and world-class amenities made Merritt 7 the best location for our growing company.”

Margaret Egan, senior vice president, Clarion Partners, says, “Datto is a premier technology company whose business is rapidly growing. Having them select Merritt 7 for their global headquarters speaks to the successful atmosphere we provide for tenants across many industries. We have been consciously focused on creating an environment that is inviting and inspirational to a whole new 21st century workforce. The execution of this lease is testament to this approach.”

Datto was represented by Paul Jacobs, Colin Reilly and Barbara Segalini of CBRE. Clarion Partners was represented by David Fiore and JoAnn Brennan-McGrath of Marcus Partners.

A substantial capital improvement program at the six-building, 1.4 million square foot Class–A office park is substantially complete. The improvements included major contemporary upgrades to the interior and exterior of the property, with modernized common areas, entryways, main lobbies, corridors and restrooms. Starbucks Cafés, an executive dining room/conference center, smaller conference rooms, upgrades to the full-service cafeteria, an expanded and refurbished fitness facility and telecommunications upgrades were also implemented. A concierge function and was added as was the installation of a new park-wide state-of-the-art security system.