GREENWICH, Conn. – Catterton Management Co. has renewed its lease and will expand at the Greenwich Office Park as a result of a $13 million capital improvement plan to upgrade the infrastructure, common areas and amenities across the entire park.
The nine-building complex, with 425,000 square feet of space, is situated on 23 wooded acres in Greenwich.
Clarion Partners, asset manager of Greenwich Office Park, worked closely with CBRE Group in arranging the long-term lease on behalf of the ownership.
“Greenwich Office Park is one of the most sought-after business addresses in the tri-state area,” said Margaret L. Egan, senior vice president, asset management with Clarion Partners. “Our goal with this improvement program was to further enhance the tenant and visitor experience by creating a seamless relationship between modern infrastructure and the Park’s natural setting."
The full-scale renovation of the façade and infrastructure of Building 1 to a LEED core and shell standard has been completed.
Additional parkwide improvements include fully renovated lobbies and common corridors, new restrooms, refreshing the café and fitness center locker rooms, the addition of a new conference room amenity, HVAC and roof replacements, and elevator cab and control upgrades.
Extensive landscaping improvements with enhanced outdoor seating are underway with the entire plan expected to be substantially complete by the end of the year.
“In addition to Catterton’s lease expansion and extension, we anticipate much improved leasing activity as a result of the improvements we have instituted throughout the nine building portfolio,” said David Block, senior vice president of CBRE. “Greenwich Office Park stands as the benchmark for high-quality office space while continually outperforming its competition throughout the region.”
Catterton, a leading consumer-focused private equity firm with more than $4.0 billion currently under management and a 24-year track record of success in building high growth companies, currently occupies space at 7 Greenwich Office Park, or 599 W. Putnam Ave. Following its lease renewal, the firm intends to expand its operations and corporate offices within the entire property.
”For the last 20 years, Catterton has been based in Greenwich, and its new commitment is a testament to the renaissance occurring in Western Greenwich,” said Peter Tesi, Greenwich First Selectmen. “The town is thrilled Catterton has decided to remain as one Greenwich’s most prestigious corporate tenants.”
Currently, Greenwich Office Park offers tenants office space ranging from 1,800 to 79,000 square feet. The park is set on a 23-acre site with a full service café within walking distance to all nine office buildings; two ponds complete with fountains and picnic tables; a private fitness center; direct shuttle service to the Greenwich train station; and on-site management.
Additional amenities include dry cleaning; shoe shine and repair; mail delivery and pick up at each tenant’s suite; car wash; and detailing service.