UBS Financial Services Signs Full-Floor Lease at 8 Wright Street in Westport, CT
NORWALK, Conn., June 1, 2015 /PRNewswire/ -- Marcus Partners, a value-oriented real estate investor, announced today that UBS Financial Services, Inc. has signed a full-floor, 19,217-square-foot lease for 10 years at 8 Wright Street, a property owned by an affiliate of Marcus Capital Partners Fund II, L.P.
Since acquiring 8 and 10 Wright Street in October of 2014, Marcus Partners has commenced a $5 million transformative renovation program at the property. The centerpiece of the program is the installation of new floor-to-ceiling windows, which offer sweeping views of the Saugatuck River and historic Westport Center.
The property's lobbies, restrooms, elevators, landscape, paving, entrances, signage, parking decks, and mechanical systems are undergoing significant improvements as part of the program.
"We are excited to offer our employees and clients this well-located and newly created space at 8 Wright Street," said Frank Minerva. "We were attracted to Wright Street by its high quality, convenient location, institutional ownership, and unparalleled views."
David Fiore, who leads Marcus Partners' NYC Metro office in Norwalk, CT, said, "We look forward to welcoming UBS to 8 Wright Street in 2016. This lease recognizes the transformative repositioning program currently under way at 8 and 10 Wright Street and affirms its place as an excellent, best-in-class property."
8 Wright Street and the adjacent 10 Wright Street jointly contain 84,000 square feet of office space and now have 18,300 square feet remaining available for lease. The property's immediate neighborhood is thriving with coffee shops, restaurants, and bars, while Westport Center boasts one of the most sought after Main Street addresses in America and is home to many national and local retailers as well as a thriving arts and literary community.
Marcus Partners is one of the largest owners and managers of real estate in the Fairfield County market. It owns, manages, or owns and manages more than three million square feet of commercial space out of its New York Metro office in Norwalk, CT, and approximately five million square feet of commercial space overall along the East Coast.
Marcus Partners was represented in the transaction by Adam Klimek, Senior Director at Cushman & Wakefield. UBS Financial Services was represented by Steve Baker, Executive Director at Cushman & Wakefield.
ABOUT CUSHMAN & WAKEFIELD
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 248 offices in 58 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, please visit www.cushmanwakefield.com.
ABOUT MARCUS PARTNERS
Marcus Partners is a value-oriented real estate investor, operator and redeveloper based in Boston, MA, with a regional office in Norwalk, CT. The firm invests in real estate and related assets through its fully discretionary $250 million Marcus Capital Partners Fund II, L.P., pursuing a mix of strategic and opportunistic investments. It currently owns/manages a diversified portfolio that includes approximately five million square feet of office, medical office, R & D, warehouse and industrial properties located along the East Coast. For more information about Marcus Partners, please visit www.marcuspartners.com.
SOURCE Marcus Partners
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