Owner starts work on 13-story building in South Norwalk
CBRE Group”™s Westchester/Fairfield County office said it has begun work representing the owner in marketing a 190,000-square-foot, 13-story building at 50 Washington St., Norwalk, to be called SoNo Place. The building is currently undergoing a complete renovation.
A commercial building built in 1972, the building is being reworked specifically for the needs of the so-called TAMI market of tech, advertising, media and information companies.
In 2014, Capital Equities Group, a private real estate investment firm, bought the mixed-use office and retail property in South Norwalk, a neighborhood often called SoNo.
Office availabilities range from 1,500 square feet to 26,000 square feet with new prebuilt units ranging from 1,500 square feet to 3,400 square feet.
“The upgrades underway at SoNo Place are reflective of both the historic nature of SoNo and the contemporary touches that continue to draw today”™s tenants and residents to the area,” CBRE said.
The new look will include loft-style interiors with exposed beams and columns among other design amenities.
The building exterior will have a modern industrial look with steel and glass canopies, new storefronts and lighting.
The lobby will nearly double in size and will include a new concierge station. The new lobby will also serve as a collaborative work environment for the building”™s various tenants with sitting areas and Wi-Fi.
The buildingӪs caf̩ is being renovated and will, when finished, be open to the lobby. Additionally, a 4,000-square-foot fitness facility will be built.
Capital Equities Group is working with the city to make improvements to the park adjacent to the building and to construct landscaping beds on the Webster lot in front of the building. The company foresees similar external improvements at other properties it owns adjacent to the Webster lot.
“Attracting and retaining businesses is a key part of our development plan,” Norwalk Mayor Harry Rilling said. “Keeping the city’s stock of buildings not only up-to-date, but ahead of the curve, will help to accomplish this goal, particularly in an area like SoNo.”
A 2-megawatt diesel generator backs up the building. The building also has a central computer server.
“The upgrades at SoNo Place combined with the amenities, direct access to the Metro-North and all major highways, and the abundant parking the site provides, will no doubt make this a much-sought-after location and draw a variety of tenants,” said David Block, CBRE senior vice president who is leading the leasing efforts along with colleagues Steven Greenbush and Kevin McCarthy.
“We are increasingly seeing TAMI ”“ or technology, advertising, media and information ”“ tenants join and expand within the greater Norwalk office market,” Block said. “These tenants often favor access to public transportation as well as open spaces and floorplates that have become known for increasing collaboration and productivity among their employees. The renovations at Sono Place were designed with this in mind.”
Block noted the area is home to the likes of Priceline, Datto, Interpublic Group, Milward Brown and Xerox.
“It promises to be a unique opportunity for tenants and we look forward to a successful leasing campaign there as the building is reintroduced,” Block said.