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WESTPORT, CT-Terex Corp., the third largest manufacturer of construction and mining equipment in the world, will be shifting its corporate operations from 500 Post Rd. here to the Nyala Farms Corporate Center.

The firm, a major construction and mining equipment manufacturer, will relocate by year’s end from its current headquarters totaling 35,000 sf at 500 Post Rd. to 79,598 sf of space at the 372,207-sf five-building complex. The long-term lease is the largest lease transaction so far this year in Fairfield County and brings the Nyala property to 100% occupancy, Cushman & Wakefield officials note.

Cushman & Wakefield’s Josh N. Kuriloff, executive vice president, and Stephen Baker, senior director, represented Terex in the transaction negotiations. Cushman & Wakefield’s Gregory Frisoli, senior director, represented the landlord, Nyala Farms, Inc. The asset manager of the property is L&B Realty, which manages the asset in a portfolio of real estate investments for a state pension fund, according to Cushman & Wakefield.

“Terex desired a class A office property that could not only satisfy its current space needs, but also accommodate projected future growth,” Baker says.

Frisoli adds, “Terex had several options in the market, but only Nyala Farms offered Terex the opportunity to remain in Westport. In turn, Nyala Farms benefited by leasing a large vacancy at the complex. The transaction was a great fit for both parties.”

Major tenants at Nyala Corporate Center include: Benfield, Smith Barney, Playtex Products, Lifecare, Deloitte & Touche, Pequot Capital & Phibro Energy.

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