case study

Office Refresh: Merritt 7 Corporate Park

Seven-story Merritt 7 office building with blue sky

​​​​​​​​City/State​: Norwalk, Connecticut

​​Merritt 7 is a six-building, 1.4 million sq. ​ft., 22-acre office park in ​Norwalk, Connecticut. Clarion has held the asset, Fairfield County's largest office park, since the 1990's, initially purchasing the property due to its strategic location at the intersection of the Merritt Parkway and heavily-trafficked Route 7, its adjacency to a Metro-North train station, on-site development capacity, and stabilized and creditworthy tenant base.

Early on, Clarion added a sixth office building and a 30,000 sq. ft. outdoor plaza. More recently, Gensler and landscape architect MPFP were engaged for interior and exterior upgrades including renovations to two existing full-service cafés and a building lobby, the creation of two multi-function rooms, and extensive hard- and soft-scaping throughout the campus. In fact, the property has been recognized with a Silver Award of Excellence by National Association of Landscape Professionals (NALP) for its exemplary landscape and environmental enhancements, including a museum-quality outdoor sculpture garden, Laws of Nature, created by renowned local​ architect Charles O. Perry.

Laws of Nature outdoor sculpture surrounded by yellow flowers, building in background  Metro North train station next to office building

Clarion continues to improve the ​property by adding and upgrading all-inclusive services, cutting-edge amenities, collaborative spaces, and elements that improve the efficiency and sustainability of the property. Once the renovation is complete, Merritt 7 will have 60,000 sq. ft. of curated outdoor space and 10,000 sq. ft. of multi-purpose and conference room space in addition to food service options, a fitness center, a car wash, a hair salon, and a shuttle to the local MetroNorth train station. Ownership is actively working with the CT DOT to facilitate the renovation of an adjacent MetroNorth train station, adding a direct connection to the property in 2022.​

In addition to physical amenities, significant focus has been placed on tenant programming to activate the grounds and build a sense of community, with outdoor games throughout the campus and events including picnics, ice cream socials, yoga/meditation classes, family parties, live music, and blood, recycling,​ and food drives occurring regularly.​

Office lobby and conference room with blue and orange furniture  Collaborative office space

Merritt 7 was also awarded a series of wellness, sustainability and infrastructure certifications, including LEED Gold Certification from the U.S. Green Building Council at buildings 501 and 601. The entire six-building 1.4-million square foot office park has achieved a Fitwel Two-Star rating and WiredScore Gold status. These new certifications are the latest achievements in Merritt 7’s ongoing upgrade​ and innovation plans that continue to prioritize health, wellbeing and connectivity for all of its tenants. 

Through these activities, Clarion has created a healthy and welcoming environment which boosts productivity, improves work-life balance and offers a vibrant campus atmosphere. 

Excercise equipment in state of the art fitness centerEmployees playing foosball outdoors at Merritt 7 Corporate Park
​​​

Click here to visit the property website.​





Definitions

Footnotes

Disclosures

The investments described herein were selected based on non-performance-based criteria and are not necessarily representative of any particular Clarion Partners fund or portfolio. It should not be assumed that any of these properties are or will prove to be profitable.

Get in touch

We're here to answer your questions.

Contact us

Our offices

  • New York (HQ)
  • Boston
  • Dallas
  • Los Angeles
  • Washington D.C.
  • London
  • Frankfurt
  • Jersey
  • Paris

This material does not constitute investment advice, nor does it constitute an offer in any product or strategy offered by Clarion Partners LLC or Clarion Partners Europe, and should not be viewed as a current or past recommendation to buy or sell any securities. Any specific investment referenced may or may not be held in a Clarion Partners client account. It should not be assumed that any investment, in any property or other asset, was or will be profitable. Investment in real estate involves significant risk. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing.

close

You are leaving www.clarionpartners.com and being directed to a new site.

You have selected a link that will take you away from the Clarion Partners website. Although we have verified the accuracy of this link from our website to a third party website, the content of the web pages may change without notice. We are not responsible for the content, views, or privacy policies of the third party website. Privacy and security policies of such site may differ from those practiced by Clarion Partners.

By clicking on the ACCEPT button below, you acknowledge the previous statement and will be taken to the linked site. If you want to remain at this site, select the DECLINE button.

Decline Accept