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WILTON, CT-The Davis Cos., the owner/developer of the Wilton Corporate Park, reports that AIG Financial Products Corp. has signed a long-term 65,584 sf lease at the 50 Danbury Rd. building. The subsidiary of American International Group, a worldwide insurance and financial services firm, will be relocating from its current office location at Nyala Farms Corporate Park in Westport, CT. The company expects to take occupancy in April 2002.

Insignia/ESG represented AIG Financial Products Corp. The Davis Companies represented itself in the transaction.

“We’re excited to have AIG as our first major tenant at the Davis Cos.’ Wilton office. “This property not only meets their current and future infrastructure, telecommunication and expansion needs, but also provides many other amenities that are important to their employees.”

AIG is the first tenant to commit to the 220,000-sf building. Davis Cos. is undertaking a $9-million capital improvement program to reposition the facility, which had served as the world headquarters for Perkin Elmer Corp., into a multi-tenant office property by next year. Perkin Elmer will be relocating its remaining employees at 50 Danbury Rd. to new offices at the Merrit 7 complex in Norwalk, CT this spring, Fiore adds.

The property is the central building in the 33-acre campus, which Davis has renamed Wilton Corporate Park. Park amenities include: a 150-seat theater-style auditorium, tennis, basketball and volleyball courts, a full service cafeteria, a fitness center, a picnic area and a walking and jogging trail.

Earlier this year, the Davis Cos. purchased the property from Perkin Elmer and filed plans for approval to build an additional 200,000 sf of office space. The plan includes a new 125,000-sf building at 40 Danbury Rd. and 75,000 sf at 60 Danbury Rd. This past October, Davis obtained a zone change for a portion of the property and is now in the approval process for the two new buildings. Fiore says he expects a decision on its development plans could be made by this winter.

In additon to the AIG deal, Fiore reveals that he is in discussions with a firm that is seeking a lease larger than the AIG transaction. While he would not identify the prospect, he relates that the Wilton property has attracted interest from Connecticut companies looking to expand or consolidate their operations as well as from some New York City firms studying the Connecticut marketplace as an alternative to their current Manhattan operations.

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