In August 2012, FPG Norden DC, LLC (a subsidiary of Fortis Property Group, LLC) signed a long-term lease with Cervalis, LLC for a new 167,691-square-foot data center and disaster recovery center to be built in a new state-of-the-art, Class-A building at 10 Norden Place, in Norwalk, CT. Cervalis is a premier provider of IT infrastructure solutions including business continuity / rapid recovery, managed hosting, enterprise cloud computing, managed security, managed storage, networking & telecommunications and colocation. Cervalis’ clients include organizations of all sizes, from emerging companies to Fortune 500 corporations. This was the largest lease transaction in Fairfield County to date in 2012 and the largest build-to-suit project in 12 years in Fairfield County. Site development commenced in August, 2012.
Fortis acquired this re-development project in August 2011. Located in the heart of Williamsburg, this property is only steps away from the L-Train subway and retail shops on Bedford Avenue. The existing building is a 33,000 SF former artist’s loft building that Fortis will be re-developing into a 25,000 SF, 22-unit high-end residential condominium. The larger units are optimally situated to capitalize on the influx of young professional families to the Williamsburg market.
Fortis acquired 30 Henry Street in May 2012 and is re-developing it into a 5-story, high-end residential condominium. Fortis has already obtained Landmarks approval for its planned re-development. The project consists of five, full-floor 3,000 square foot units (“horizontal brownstones”) with high-end construction and finishes. Construction commenced in June 2012.
Fortis acquired the land and existing buildings on 48th and 49th Street in May 2012. Fortis plans to construct a 103,600 SF, 123 unit, residential condominium (two inter-connected, seven-story buildings) project on this site. The project has been painstakingly designed for optimum efficiency and aesthetics to meet and exceed market demand. Project construction began in August 2012.
The State Street Financial Center is a 36-story, 1.05 million square foot trophy office asset located in Boston’s dynamic Financial District. The property is the headquarters of (and 100% net leased to) State Street Bank, one of the preeminent investment service and management companies in the U.S. Built in 2003, State Street Financial Center is one of Boston’s newest and most distinct office buildings, occupying a prominent location at the head of the Rose Kennedy Greenway, a newly created 30-acre stretch of vibrant parks and public gathering spaces winding through the Financial District. Fortis acquired this property in December of 2006.