NORWALK, CT – March 8, 2012 – (RealEstateRama) — Paramount Transportation Systems, a world leader in managing relocations for corporate employees, has signed an early renewal of its lease at Malkin Properties’ MerrittView, according to Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and managing agent for the building.
The tenant will relocate to a 5,351-square-foot space on the sixth floor from a seventh-floor space that it had occupied since 2006, and will remain in the Trophy building for another five years. Malkin Construction will build out the new space.
“MerrittView has provided a strong, nurturing business environment for Paramount from the moment it arrived,” says Syd Gordon of Angel Commercial LLC, who brokered the deal on behalf of the tenant. “With its convenience to transportation, hands-on management and top-tier amenities package, my client hopes to remain there for many years to come.”
Paramount Transportation Systems was formed in 1996, and specializes in the international relocation of household goods, personal effects, vehicles and pets for corporate employees. The company is headquartered in San Diego, with other major facilities located in Boston, Houston, New York, and Germany.
“Industry leaders such as Paramount enhance Malkin Properties’ prestigious tenant roster,” says Mr. Newman, who represented the landlord in the transaction along with senior leasing associate Kimberly Zaccagnino and leasing associate Tara Long. “We maintain the highest standards of building management and service in an effort to continually attract and retain tenants of this caliber.”
Built in 1985, MerrittView is an eight-story, 260,000-square-foot Trophy office building located at the intersection of Route 7 and the Merritt Parkway, near the Norwalk/Wilton border, with immediate access to Route 7, Exit 40A and 40B of the Merritt Parkway, and the Metro-North Commuter Railroad.
MerrittView features on-going building-wide enhancements, including recently redecorated lobby and common area corridors, and a renovated main entrance plaza; spectacular river and woodland views; in-house concierge service; MerrittView Grille dining facility and catering service; recently re-finished, tenants-only fitness center with locker room facilities; tenants-only multimedia conference center; free on-site parking within structured garage; 24/7 security; broad range of telecommunications systems; ATM; and tenants-only shuttle van service for tenants to the South Norwalk Transportation Center and the Metro North Danbury Spur.
In 2010, MerrittView earned the nationally recognized Energy Star designation from the U.S. Environmental Protection Agency. The designation signifies that the property meets strict energy performance standards set by the EPA and uses less energy, is less expensive to operate, and causes fewer greenhouse gas emissions than its peers.
Malkin Properties is the real estate management, marketing and acquisition arm of the Malkin family, which has commercial, retail and residential operations in seven states. The company’s portfolio of suburban Trophy office buildings totals 1.85 million square feet of prime space in Westchester County and in Fairfield County, Conn.
In addition to MerrittView, other Malkin Trophy properties in Fairfield County are: First Stamford Place, a three-building, 810,000-square-foot office complex located along I-95, adjacent to the Stamford Transportation Center; and Metro Center, a 285,000-square-foot property at the Stamford Transportation Center. In neighboring Westchester County, Malkin Trophy properties are: Ten Bank Street, a 225,000-square-foot, 12-story office building located in White Plains, one block from the White Plains Transportation Center; and 500 Mamaroneck Avenue, a five-story, 285,000-square-foot multi-tenant office building located between the Hutchinson River Parkway and I-95 in Harrison.
Malkin Properties provides full turn-key deal-making and management services, including marketing, lease negotiations, design, construction, management and cleaning services, all performed in-house. The firm is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives. Together with MerrittView, 500 Mamaroneck, Metro Center and Ten Bank Street also recently earned the Energy Star designation; the balance of the Malkin Properties suburban Trophy portfolio is undergoing Energy Star review.
Broker commissions are paid in full upon lease signing.
