Introduction
Choyce Peterson, Inc., a leading commercial real estate brokerage, has successfully negotiated a renewal of Success Systems, Inc.’s 5,649 SF headquarters lease at 383 Main Avenue in Norwalk, CT. The transaction reflects the strong, long-term partnership between Success Systems and Choyce Peterson Principal John Hannigan, who has guided the company through multiple relocations and leases since 2015.
Client Testimonial
“Our sincere appreciation goes to John for partnering with us once more on our leasing decisions. Over the last 10 years he has exhibited exceptional market insight and adept negotiation skills as he guided us through numerous relocation and lease renewal processes. We are pleased to remain at 383 Main Avenue with advantageous new lease terms.”— The Success Systems Team
Lease Details
The lease renewal demonstrates the value of experienced representation and strategic negotiation in securing favorable lease terms for established tenants.
- Broker: John Hannigan, Choyce Peterson, Inc. (www.choycepeterson.com)
- Asset Class: Office
- Tenant: Success Systems, Inc. (www.success-systems.com)
- Square Footage Leased: 5,649 SF
- Lease Terms: Competitive base rent, free rent
- Landlord: GLIC Real Estate Holding, LLC
383 Main Avenue: Property Summary
383 Main Ave, also known as MerrittView, is a premier office space offering modern amenities and strategic accessibility. Positioned near key business centers and major transit routes, 383 Main Ave is ideal for companies seeking a location that combines convenience and prestige.
- Building Type: Office
- Notable Amenities: On-site cafeteria, conference center, fitness center and abundant covered parking
- Highway Access: Conveniently located at Exits 17A and 17B of the Merritt Parkway, providing swift access to major routes.
- Public Transit Access: Close proximity to Merritt 7 and South Norwalk Metro North train stations, ensuring easy commuting options.
Leasing Strategy & Execution
Securing this renewal required a methodical and analytical approach.
- The tenant prioritized continuity of operations, seeking to remain in their established headquarters.
- Negotiations resulted in an attractive base rent and a period of free rent, strengthening the tenant’s business position.
- The relationship-driven approach between Success Systems and Choyce Peterson, built on years of trusted guidance, enabled efficient communication and a seamless renewal process.
Merritt 7 Corridor Overview
Situated in a dynamic and walkable area, 383 Main Avenue benefits from its proximity to key business, cultural, and recreational amenities along the Merritt 7 Corridor.
- Proximity to Business Districts: Located just minutes from Norwalk’s vibrant business district, offering access to a network of professional services.
- Surrounding Streets: Positioned on Main Avenue, providing direct routes to local businesses and neighboring towns.
- Cultural Context: Nestled in a culturally rich area, the building is close to local galleries and theaters, enriching the work-life balance.
- Access to Norwalk River: Offers scenic views and seating areas along the river, ideal for a midday break or client meeting.
Nearby Restaurants
- Brasitas – 430 Main Ave: High-end eatery with tropical decor offering innovative Pan-Latin cuisine in a vibrant setting.
- Oak + Almond – 544 Main Ave: Farm-to-table, wood-fired New American fare & organic wine in a warm, open venue with a lush patio.
- Siena Norwalk – 353 Main Ave: Mediterranean eatery featuring panoramic river views, wood-fired pizzas and Tuscan-style fare.
Nearby Hotels
- Courtyard by Marriott – 474 Main Ave, Norwalk: The hotel offers generously appointed guest rooms and suites, complimentary WiFi, a newly-renovated lobby and Bistro, fitness center and indoor pool.
- The Watershed – 353 Main Ave, Norwalk: Boutique riverfront hotel with newly redesigned guest rooms and an expansive rooftop terrace.
- Extended Stay America – Norwalk – Stamford – 400 Main Ave, Norwalk: Ideal hotel with the perfect location off the Merritt Parkway for business travelers, students, tourists and those relocating to the Norwalk, CT area who need to find a home away from home for several nights, a week, a month or even longer.
Conclusion
Renewing Success Systems’ headquarters lease at 383 Main Avenue reinforces the company’s continued growth and operational stability. The transaction also highlights the impact of strategic tenant representation and well-executed negotiations in the Fairfield County office market.
FAQ’s
What is the history of this office space?
The building has served as the headquarters for Success Systems since 2021, when the company subleased space. Choyce Peterson then represented Success Systems again in 2022 to negotiate a direct lease with the landlord for this same space.
What features stood out to the tenant?
The convenient location, expansive views, on-site parking, on-site cafeteria, and professional management were critical factors.
Why is this a strong location for office tenants?
Immediate access to the Merritt Parkway and with proximity to public transportation makes this building ideal for businesses seeking convenience as well as a premier employee experience.
Were any incentives part of the lease?
Yes — the renewal included an attractive base rent and a period of free rent.
What type of business moved into the space?
Success Systems, a software development company for retail store automation, uses the space as its headquarters.
In The News:
