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The project would be another element in the transformation of the so-called teardrop area – between Hutchinson River Parkway and Interstates 287 and 684 – from obsolete office parks to residential, recreational, retail and medical facilities.
The two-building office complex is 94% leased.
The proposal, led by Boston-based real estate firm Marcus Partners, would knock down a 160,000-square-foot office building and build in its place 450 apartments in two buildings.
Merritt 7 is currently 97 percent leased, and will have a large block of availability in 2019.
Tenants at the 71,401-square-foot building at 40 Cross St. include Norwalk Surgery Center/Norwalk Hospital, St. Vincent’s MultiSpecialty Group, and Westmed.
A Cushman & Wakefield team of Steven Baker and Adam Klimek represented the owner, MCP II Wright Street LLC, an affiliate of Marcus Partners, while Dave Fugitt and Bruce Wettenstein of Vidal/Wettenstein and CBIZ’s Chicago team jointly represented the tenant.
An investment of $5 million includes new windows with Westport views.