Norwalk Hospital Signs 100,000-SF Lease

NORWALK, CT-Norwalk Hospital has signed a 100,000-sf lease at the i.park 7 complex at 761 Main St. here, according to Cushman & Wakefield executives. Hospital personnel say administrative offices and some practitioners will move to the i.park 7 property, which is currently undergoing an extensive $50-million renovation project.

In addition, the hospital plans to launch a Wellness Center in conjunction with an on-site LA Fitness health club, say officials with Cushman & Wakefield, the exclusive leasing agent for the 402,000-sf complex. Norwalk Hospital is experiencing tremendous growth resulting in the need for major expansion space both at i.park 7 and elsewhere. Norwalk Hospital is expected to take occupancy of its space by January 2008. LA Fitness leases approximately 50,000 sf of space at i.park 7.

Greenwich-based National RE/Sources purchased the 30-acre former Perkin-Elmer property in 2006 for $21 million. The development will follow ownership’s i.park model of acquiring older corporate facilities located in strong office markets and converting them into “intelligent” and energy-efficient buildings that can offer office rents at 25% below market, C&W officials say. The class A office/mixed-use facility will feature a sustainable design with a green roof, and energy efficient windows and HVAC. The owner is looking to make the necessary improvements to secure a LEED designation.

National RE/Sources also operates i.parks in Lake Success, NY; Yonkers; and Grand Rapids, MI.

Cushman & Wakefield senior directors Maureen O’Boyle and Gerard Lees say there is currently 200,000 sf of space available that can be subdivided into increments between 10,000 sf and 200,000 sf at the complex.

O’Boyle says, “The renovation and refurbishment in the i.park tradition will transform and reposition the property. We have received enormous tenant interest and we are currently in discussions with several companies looking for large, contiguous blocks of space.”

C&W’s Lees adds that the property is a unique opportunity to those firms looking to lease space in Fairfield County. “Buildings that can offer 50,000-plus-sf blocks of space on a single floor are not easily found in this marketplace. And i.park 7 is the only property in the region that is equipped to provide 150,000 sf on two floors.”