NORWALK, CT – April 5, 2012 – (RealEstateRama) — The not-for-profit Multiple Myeloma Research Foundation, Inc. (MMRF) has signed an early lease renewal and expanded its office space by nearly 50 percent, to approximately 9,500 square feet, at Malkin Properties’ MerrittView, according to Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and managing agent for the building.
MMRF has more than doubled in size since moving to MerrittView in 2006, with this transaction constituting the tenant’s third expansion and second renewal at the building. The deal is for a term of eight years, and was signed 15 months before lease expiration.
Malkin Construction will build out the fifth-floor expansion space for MMRF.
“With its convenience to transportation, hands-on management and top-tier amenities package, MerrittView has provided us with a strong business environment from the moment we arrived,” says Jim Grazick, finance director for the MMRF. “Our organization hopes to remain here for many years to come.”
MMRF pursues innovative means to accelerate the development of treatments to extend the lives of patients and lead to a cure for multiple myeloma, a cancer of plasma cells that develops in 1-4 of every 100,000 people each year.
“Organizations dedicated to a noble cause, such as MMRF, 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.”
The tenant was represented by Michael McGuire of Austin McGuire REA.
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.
About Malkin Properties
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.
