Development Of Norden Park South Commences With Renovation Of 85,000-SF

1 Mar, 2007, Norwalk, CT

Major capital improvements will accommodate office or disaster-recovery/data center requirements

A major multi-million dollar capital-improvement program is underway at NordenPark, the 630,000-square-foot high-tech office complex located in Norwalk, Conn., with the development of NordenPark South, according to Cushman & Wakefield, the property’s leasing agent.

More than 85,000 square feet of contiguous space, previously occupied by the complex’s largest tenant, Norden Systems, will be developed into technologically advanced office and flex space -- ideal for single or multi-tenant use. The signature space, primarily located on the south end of the complex, will also be ideally suited to accommodate increasing disaster recovery and data center requirements. A new state of the art lobby directly off of the South parking lot will be added, along with a significant new window line along both the south and courtyard sides of the space. The on-site fitness and conference centers will be available for NordenPark South tenants.

Signage opportunities for larger tenants will also be available on the new South-side entrance. Space at NordenPark South may be subdivided starting at 10,000 square feet.

Cushman & Wakefield’s Trip Hoffman, senior director and Jodie Dostal, director, serve as the leasing team representing the property owner, Norden Center LLC, a partnership between two New York-based real estate investment companies, the Fortis Group and the Leser Group. Fortis Property Group serves as managing agent for the property. Nicholas Pacella Architects has been retained to handle the design of NordenPark South.

“Norden Park South will essentially become a mirror image of the original NordenPark adaptive reuse project – futuristic and technologically advanced,” said Mr. Hoffman. “The infrastructure at NordenPark, which includes electrical redundancy, Mitel Network switches, as well as fiber redundancy, are significant amenities for tenants in the market for high-tech space, especially for disaster-recovery or data-center needs.”

Recently, Baltimore-based Legg Mason signed a lease to house its data center at NordenPark. “Legg Mason is following a current SEC regulation requiring financial services firms to keep data center/disaster recovery operations in a location outside of their corporate headquarters,” said Mr. Hoffman.

In addition to the NordenPark South project, an on-site 4.8-acre parcel of land is slated for the construction of a build-to-suit property, with frontage and signage possibilities on I-95, making it ideal for a corporate user.

"The lease opportunities for tenants at NordenPark South are expansive and, unlike other facilities in the region, we can provide large users corporate identity with building signage,” said Mr. Dostal. “Tenants will benefit from a superb amenity package, ample parking ratio, and a centralized location, which have motivated other tenants to relocate to the property.”

Both NordenPark and NordenPark South feature a technologically advanced design with space that can be subdivided as necessary. Norden Park is currently 86% leased to a tenant roster that includes Northrop Grumman Norden Systems, Pepperidge Farm, CompHealth, Katherine Gibbs School, Tauck World Discovery, Red 7 Media, Legg Mason and Circle One.

Located on 37 acres between exits 16 and 17 off I-95, NordenPark is the most technologically advanced facility in Fairfield County. The property features a premier location with easy access from I-95, the Route 7 connector and the Merritt Parkway; exceptional value and efficiency, with low operating costs and excellent parking with ratios of up to 4 to 5 per 1,000 rsf; as well as an outstanding tenant amenity package that includes a video conference center, fitness center, cafeteria and shuttle service to and from Norwalk and Westport train stations. For more information on NordenPark visit www.nordenpark.com.

Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 195 offices in 55 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.

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Contact: Alison Miller
XM Communications
914-589-8561
amiller@xm-pr.com

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