Choyce Peterson, Inc. recently concluded a successful lease renewal on behalf of private equity firm Heartwood Partners for their 8,245 SF headquarters at 301 Merritt 7, Norwalk, CT. The transaction was led by Choyce Peterson Principal John Hannigan, emphasizing both strategic negotiation and a long-term client relationship. This renewal stands out due to the competitive terms achieved and the tenant’s continued commitment to a premier, amenity-rich office environment.
Lease Details
- Broker: John Hannigan, Choyce Peterson, Inc.
- Asset Class: Class A Office
- Tenant: Heartwood Partners
- Square Footage Leased: 8,245 SF
- Lease Terms: Competitive rental rate; landlord-funded tenant improvement funds; renewal
301 Merritt 7: Property Summary
301 Merritt 7 is part of the renowned Merritt 7 Corporate Park, a Class A office complex known for its robust amenities and strategic location. The property’s accessibility and modern offerings made it an ideal fit for Heartwood Partners’ evolving business needs.
- Address: 301 Merritt 7, Norwalk, CT
- Total Building Square Footage: 253,899 SF
- Year Built: 1985
- Building Type: Class A Office
Leasing Strategy & Execution
When Heartwood Partners’ lease approached expiration and their office configuration needed to evolve, CFO Berat Rifati enlisted John Hannigan to represent them for their lease renewal. Building on a relationship established during Heartwood Partners’ 2014 move to Merritt 7, John guided the Heartwood Partners team through a comprehensive survey of the Norwalk office market. Multiple building tours and simultaneous negotiations with several landlords—including their existing one—ensured leverage, transparency, and optimal terms. Ultimately, Heartwood Partners chose to renew at 301 Merritt 7, securing a competitive rate and improvement funds to modernize their space.
Route 7 Corridor Overview
301 Merritt 7’s location offers exceptional convenience and amenities, supporting both employee satisfaction and business growth.
- Merritt Parkway (Route 15) – 0.25 miles – Provides immediate highway access for commuters and visitors.
- Merritt 7 Metro North Train Station (direct access via pedestrian bridge) – Newly constructed station and enclosed bridge connect directly to the corporate park, enhancing rail transit options.
- I-95 Exit 15 – 3 miles – Quick access to a major interstate, facilitating regional connectivity.
This office space is surrounded by a range of on-site amenities in Merritt 7 Corporate Park such as two cafeterias, Starbucks, a fitness center, conference and meeting rooms, a hair salon, car washing, ATM machines, and 24/7 security. The neighborhood also benefits from nearby shopping centers, dining options, and green spaces. With covered parking and direct public transit access, 301 Merritt 7 is positioned for both convenience and prestige.
Nearby Restaurants
- Siena Norwalk – 353 Main Ave: Mediterranean eatery featuring panoramic river views, wood-fired pizzas and Tuscan-style fare.
- Oak + Almond – 544 Main Ave: Farm-to-table, wood-fired New American fare & organic wine in a warm, open venue with a lush patio.
- Valencia Luncheria– 164 Main St: Relaxed café featuring fresh-squeezed juice and jumbo plates of empanadas, arepas & casual Venezuelan fare.
Nearby Hotels
- Courtyard by Marriott – 474 Main Ave: The hotel offers generously appointed guest rooms and suites, complimentary WiFi, a newly-renovated lobby and Bistro, fitness center and indoor pool.
- Even Hotel Norwalk – 426 Main Ave: A modern hotel focused on health and wellness, providing easy access to nearby attractions and corporate parks, as well as the South Norwalk Railroad Station for easy access to New York City.
- The Watershed – 353 Main Ave: Boutique riverfront hotel with newly redesigned guest rooms and an expansive rooftop terrace.
Conclusion
By renewing its headquarters lease at 301 Merritt 7, Heartwood Partners demonstrates its commitment to a first-class work environment that aligns with its growth trajectory. This transaction not only secures continuity for the firm but also reinforces the property’s reputation as a top choice for leading businesses in Norwalk.
Client Testimonial
“John’s experience and insight was evident when he showed us all the available office space options in the area and skillfully negotiated lease terms that aligned with our current business needs. We’re thrilled to remain in this first-class building and will certainly enjoy our redesigned office while continuing to grow our business.” — Berat Rifati, Chief Financial Officer, Heartwood Partners
FAQ’s
What is the history of this office space?
Heartwood Partners has operated its headquarters at 301 Merritt 7 since 2014, recently renewing to update their office configuration.
What features stood out to the tenant?
The property’s best-in-class amenities, prime location near major highways and transit, and landlord-funded tenant improvement funds were decisive factors.
Why is this a strong location for office tenants?
Exceptional access to the Merritt Parkway, I-95, and direct rail service via the new Metro North Train Station, plus a comprehensive amenity package.
Were any incentives or buildouts part of the lease?
Yes — the renewal included landlord-funded tenant improvement funds to support an updated office layout.
What type of business moved into the space?
Heartwood Partners, a private equity firm, renewed its lease for its headquarters.
