Advertising giant inks 110,000 s/f CT lease.The Interpublic Group of Companies This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , one of the world's leading organizations of advertising agencies and marketing services, has leased 110,000 square feet in a premier Norwalk Norwalk (nôr`wôk'). 1 City (1990 pop. 94,279), Los Angeles co., S Calif.; settled in the 1850s, inc. 1957. With the arrival (1875) of the Southern Pacific RR, it became a center for the dairy and logging industries, but office complex to consolidate its Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). headquarters from four locations in Connecticut, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cushman & Wakefield, Interpublic's real estate adviser. Interpublic chose 800 Connecticut Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent ., a 400,000-square-foot office complex located just off Exit 13 on 195 in Norwalk, where it plans to consolidate six major divisions under one roof, from four locations in Wilton, Norwalk and Stamford. Interpublic signed a 12-year lease for part of the first floor, and the entire second and third floors in the East Wing of the complex, as well as the entire third floor in the North Wing. The firm's divisions expected to occupy the headquarters include Octagon Inc., Marketing Drive Worldwide, Marketing Corporation of America, Wahlstrom Group, Media Partnership Corp. and Right Source Inc. Cushman & Wakefield brokerage professionals Edward Weiss, Gerry Lees, Robert Thuss and Melisa Schneider, represented Interpublic in its location analysis and in lease negotiations with the building's ownership, National Office Partners LP. Frank Saphire of Hines Interests, the general partner overseeing the building's leasing and management, represented ownership. "Interpublic was focused on finding the right space for its employees with a lease agreement that provided flexibility. Ownership accommodated the firm's anticipated future growth by offering expansion opportunities within the building," said Mr. Weiss, a Cushman & Wakefield vice chairman. "800 Connecticut Avenue was an ideal choice because of its location, high quality infrastructure and its amenities," he added, referring to the building's cafeteria cafeteria: see restaurant. , fitness center and on-site parking. According to Mr. Lees, a Cushman & Wakefield senior director, keys to the decision included Norwalk's central location and accessibility. "This completes a year-long process to find a suitable location for Interpublic to bring all of its employees together in one location and to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the many benefits that collective energy and creativity affords," Mr. Lees said. |
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