Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORWALK, CT-Advanced Aesthetics Inc. and Principal Financial Group have signed leases at Merritt 7 Corporate Park here totaling more than 25,000 sf. Both firms signed deals at 501 Merritt 7, a 210,000-sf property that is one of six buildings in the Merritt 7 complex owned by Merritt 7 Venture LLC.

Advanced Aesthetics is expected to move into the complex, which will serve as the company’s corporate headquarters, by late 2005 or in January 2006. The firm offers cosmetic surgery, dentistry, dermatology and hair and skin care services.

John Hannigan and Robert Hooper of Choyce Peterson of Stamford represented the tenant. JoAnn Brennan-McGrath, director of leasing at Merritt 7, acted on behalf of the ownership, which is a joint venture between the New York State Teachers’ Retirement System and Fairfield Investors Inc.

“AAI selected the Merritt 7 complex after an intensive review process that included several well-located first class office properties in the Norwalk and Westport markets,” Hannigan says. “In the end it was the complete package–amenities, location and the landlord’s willingness to accommodate AAI’s needs that allowed them to decide on the Merritt 7 complex as the right place to establish their presence in the region.”

Principal Financial has signed a lease for 11,928 sf of space at 501 Merritt 7–the company’s first office in Fairfield County. Peter Smith, regional managing director of the Northeast Region for Principal, says “recent building renovations and outstanding property amenities were a big draw.”

Cushman & Wakefield executive director Paul Kauffman and senior director Stephen Baker represented Principal Financial. Brennan-McGrath represented the ownership. PFG is expected to take occupancy by the end of this year or sometime in January 2006.

To accommodate both transactions, Merritt 7 executed an early termination agreement with Debis, the credit division of DaimlerChrysler. Brennan-McGrath says the 501 Merritt 7 building is currently 100% leased, but in January 2006, 31,000 sf of space currently leased by Olin Corp. will become available. Another 85,000 sf of space may become available for lease in January 2007, she adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.