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. Please view other important disclosures on this website here.

*Award of Excellence awards are issued by the National Association of Landscape Professionals (NALP) annually and last in perpetuity. Merritt 7 received a Silver Award on November 2018. Properties do not need to pay registration fees to pursue an Award of Excellence.

**LEED Existing Buildings + Operational Maintenance certifications are issued by the U.S. Green Building Council (USGBC) at the time of building development or major renovation and last in perpetuity. Merritt 7 buildings 501 and 601 received Gold certifications on August 2021. Properties must pay registration and certification fees to pursue LEED certifications.

***Fitwel certifications are issued by The Center for Active Design (CfAD) on a rolling basis and are valid for three years. Properties must re-certify to maintain certification standing. Merritt 7 received a Fitwel Two-Star rating on September 2021. Properties must pay certification fees to pursue Fitwel certifications.

****WiredScore certifications are issued by WiredScore on a rolling basis, and properties must re-certify to maintain certification standing. Merritt 7 buildings 501 and 601 received WiredScore Gold certifications on October 2021 and this certification is valid through November 2023. Properties must pay registration and certification fees to pursue WiredScore certifications.​

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
  • Madrid
  • Paris

Investment in real estate is speculative and involves significant risk. For more information about certain of the material risks and limitations associated with Clarion Partners’ investment advisory products, strategies and services, please see Clarion’s current Form ADV Part 2A brochure, which is available on the SEC’s Investment Adviser Public Disclosure website at https://adviserinfo.sec.gov/firm/summary/108803. 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.

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.

All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of 9/30/2022 unless otherwise noted.

Photos used in this website were selected based on visual appearance, are used for illustrative purposes only, and are not necessarily reflective of all the investments in a Clarion fund or portfolio or the investments a Clarion fund or portfolio will make in the future.

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