News: Front Section
Posted: March 3, 2023
MBI Inc. and LBB Specialties to relocate to Clarion Ptrs.’ Merritt 7
Norwalk, CT According to Clarion Partners LLC and Marcus Partners two new tenants will be relocating to Merritt 7. Consumer products marketing company MBI Inc. will lease 32,648 s/f in the upgraded Building 501, while specialty distribution firm LBB Specialties LLC (LBBS) will occupy 25,118 s/f in the newly renovated Building 601.
Newmark’s Jacqueline Durels and Tim Rorick represented MBI, while LBBS was represented by Greg Frisoli of Newmark. Ownership was represented by CBRE’s Tom Pajolek and Ned Burns for the MBI lease, and by JLL’s Ed Tonnessen and Betsy Buckley on the LBBS deal.
“We are thrilled to be relocating to Merritt 7 and consolidating our Connecticut offices to a single top-tier business environment,” said Maryellen Meehan, LBBS chief human resources officer. “The abundance of new amenity space, including multiple indoor-outdoor recreation, meeting, and event spaces were critical in our decision. The management team brings hospitality style and institutional quality to the workplace experience. It was by far the best choice for our return to the office.”
The two leases capped off a successful year at Merritt 7 with over 100,000 s/f of new leases completed over the past 12 months.
“Ownership is extremely pleased and proud to have premier companies like MBI and LBBS select Merritt 7 for their new headquarters locations,” said Margaret Egan, Clarion Partners’ SVP of asset management.
Over the past 18 months, Merritt 7 has embarked on an upgrade program encompassing the entire 1.4 million s/f campus, as part of ownership’s broader goal of creating a healthier and more adaptive business environment. In total, Merritt 7 has over 60,000 s/f of curated outdoor amenity space, and more than 10,000 s/f of flexible indoor work and meeting space.
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