Terenity Inc. Relocates Headquarters To Norwalk's Merritt 7 Park
301 Merritt 7 Norwalk, Connecticut 06851, USA
Building Size
27,211 SF
Asset Type
Office
Closing
Aug 10, 2023
AI
Clarion Partners LLC and Marcus Partners have secured three new tenants at Norwalk's Merritt 7 Park, including Terenity Inc., which is relocating its headquarters from Stamford. The office property located at 301 Merritt 7 in Norwalk, CT spans across 27,211 square feet. The asset is part of the office market in Norwalk, CT.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 301 Merritt 7, Norwalk, CT
- Square Footage: 27,211
- Market: Norwalk, CT
The landlords involved in the transaction are Clarion Partners LLC and Marcus Partners. Terenity Inc. was the tenant who decided to relocate its headquarters from Stamford. The deal was facilitated by William Montague and Kevin Foley of Cushman & Wakefield, who represented the involved parties as brokers in the transaction.
Players
Norwalk Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93