The Davis Companies breaks ground on Shelton, CT office complex.

The Davis Companies of Boston, MA and Wilton, CT, in association with David A. Mack Properties of Southport, CT, broke ground on August 11th on a 400,000 square-foot Class A office development in Shelton, CT.

The project, known as Reservoir Corporate Centre, is being developed for a joint venture with the Prudential Real Estate Investors, a division of The Prudential Insurance Company of America.

Connecticut Governor John G. Rowland and Shelton Mayor Mark A. Lauretti, together with The Davis Companies CEO Jonathan Davis, President Paul Marcus and Director of Connecticut Operations David Fiore, as well as David A. Mack of David A. Mack Properties and Gary Piccone of Prudential Real Estate Investors, were present at the ground-breaking to commemorate the first speculative office building in Fairfield County in over 10 years.

"This project is yet another indication of the strong economic growth experienced over the entire state of Connecticut and the commitment on behalf of business organizations such as The Davis Companies to the State," said Governor Rowland.

Situated on a hill overlooking the Trap Fails Reservoir, Reservoir Corporate Centre is located between Exits 11 and 12 of Route 8. The Class A office complex located on 20 acres of prime land will include 400,000 square feet in three buildings; two 156,500 square-foot, five-story twin structures with a 4,000 square-foot, one-story connector; and a third, 85,000 square-foot, three-story stand-alone corporate headquarters building. Occupancy of the first building is scheduled for Spring 1999.

"Shelton has an excellent array of neighborhood amenities that corporate tenants and their families will find particularly appealing," said Fiore, head of Davis' Connecticut operations. "The amenities, combined with the excellent market conditions, will result in a significant amount of interest in this new Class A office building."

The complex will be designed to provide a corporate campus atmosphere, including extensive landscaping with walking/jogging paths, and will include covered executive parking under the buildings. Tenants at the Reservoir Corporate Centre will also benefit from an on-site, full service cafeteria and fitness center and jogging path, as well as neighborhood amenities such as child care, restaurants, retail centers and numerous hotels.

"We are thrilled to be involved in such an exciting office development, and look forward to working with our partner, The Davis Companies, on a unique office complex," said Piccone of Prudential Real Estate Investors. "The experience and local market knowledge of The Davis Companies and allure of Shelton will make this development an excellent investment for Prudential both in the short- and long-term."

"The town of Shelton looks forward to welcoming new corporate tenants and its employees and families," said Shelton's four-term Mayor Laurefli. "New tenants will join in an already illustrious group of companies with offices in Shelton, including GE Capital, Pitney Bowes, Cartier, American Scandia and Dun & Bradstreet. This is yet another indication of the dynamic economic and cultural growth that Shelton has experienced over the last few years."

This is the latest in a series of projects developed by The Davis Companies in Fairfield County, adding to over 600,000 square feet of Class A office space they acquired and redeveloped over the past several years. "We're excited about the opportunities, and remain committed to development and acquisition in Fairfield County," noted Paul Marcus, adding "We're extremely optimistic about the potential throughout all of Fairfield County."

The company is also developing a five-acre site into Class A office space in Wilton, CT. "We believe this market will prove to be as successful for us as the Boston market has been, where we are currently developing a 190,000 square-foot first class office building in Unicorn Office Park with Prudential Real Estate Investors and a 178,000 square-foot build-to-suit office building for The MathWorks, Inc. in Natick, MA with SSR Realty Advisors, an affiliate of Metropolitan Life Insurance Company."