Real Estate in Brief: 2-21-13
Greenwich building earns LEED Gold
A Greenwich building owned by a subsidiary of SL Green Realty Corp. has been awarded a LEED-Exiting Building (EB) Gold certification by the U.S. Green Building Council.
The 121,000-square-foot building at 500 West Putnam Ave. is the third building managed by Reckson Properties to achieve a LEED-EB certification in the past four years. In 2009 and 2011, the company was awarded LEED-EB Silver and Gold certificates for two buildings in Manhattan and White Plains, N.Y.
SL Green, New York City’s largest office landlord, is also among the largest owners of commercial space in the FairfieldCounty and WestchesterCounty markets.
At 500 West Putnam Ave., recent upgrades allow the building to recycle more than 50 percent of its waste, reduce energy use by 10 percent and reduce water use by 37 percent.
“LEED certified buildings can have a profound environmental impact,” said Jay Black, SL Green director of sustainability. “(They) have also shown to reduce employee absenteeism and enhance productivity for its occupants, according the USGBC.”
Merritt 7 nears full occupancy
Commercial developers Clarion Partners and Marcus Partners announced that occupancy at Merritt 7 Corporate Park in Norwalk is nearly 90 percent with several new tenants signing on over the past several months.
In all, seven new tenants have leased nearly 84,000 square feet of space in recent deals, Clarion Partners and Marcus Partners said. The complex totals 1.4 million square feet of space.
The partners said the property would soon undergo a renovation project, which is to include upgrades to the interior and exterior common areas including seating plazas, entryways, main lobbies, corridors and restrooms, among other items.
Real estate investment firms Clarion Partners and Marcus Partners are headquartered in New York and Boston, respectively, and Marcus Partners has regional offices in Connecticut and Florida.
Independent living facility sold
Real estate advisory firm Delmhorst & Sheehan, Inc. facilitated the sale of an independent living facility in Lake Ronkonkoma, N.Y., for $25 million.
Hertlin House, a 120-unit complex, was built in 2002 on 14 acres and is almost fully occupied, the company said. Delmhorst & Sheehan said the property attracted interested from multiple major investors.
“We’re not surmised that this quality asset generated strong interest from institutional investors,” said principal John Sheehan in a statement. “We expect to see continued investor demand for this property sector due to the nation’s baby boom generation.”
Delmhorst & Sheehan has offices in New York City and Stamford.
National awards for new Darien development
Kensett, a residential community in Darien being developed by Clarion Partners of New York City, Sun Homes of Pawling, N.Y., and Buckingham Partners of Haddonfield, N.J., won several honors at The Nationals, a home design competition sponsored by the National Association of Home Builders in late January.
The 16-acre, 62-home community received gold awards for Best Clubhouse Design and Best Attached Home Plan, and silver awards for Neighborhood of the Year and Best Landscape Design.
The development will also feature a clubhouse, pool and other amenities, with homes ranging from $1.3 million to $1.65 million.