Three New Lease Deals Signed at Former Norwalk Lock Company Site

SOUTH NORWALK, CT-Officials from Cushman & Wakefield’s regional office here report the signing of three lease deals totaling more than 33,000 sf of space at the former Norwalk Lock Co. building at 18 Marshall St. The tenants are expected to take occupancy in spring 2001.

The largest lease deal at the 104,000 sf property, which is currently undergoing an $11-million renovation, was with E-Drive, the new Internet marketing company of Marketing Drive Worldwide, for 12,857 sf. MDW is a global marketing agency owned by True North Communications of Wilton, CT.

“E-Drive originally considered moving to New York’s Silicon Alley, but South Norwalk’s affordability, combined with its vibrant cultural and business environment, was reason enough to stay in Fairfield County,” says Jodie Dostal of C&W, who represented E-Drive along with Trip Hoffman.

Other deals announced by Cushman & Wakefield at the building were Advantage Human Resources’ 9,972 sf lease and a 10,405 sf transaction with Navios Corp., an international shipping company. Both firms are moving their operations from Stamford, CT.

The 145-year-old building is located nearby the Norwalk Maritime Aquarium and is undergoing a transformation from an arts-loft use to 104,000 sf of office/retail use. The owner of the building is Maritime Place LLC, a partnership of Spinmaker Companies of Stamford and Greenfield Partners and Summit Development, both based in Westport, CT. Maritime Place bought the building in April 2000 for $3.3 million.