Sean Cahill, Christopher Grundy and James Searl represented Avison Young, the Norwalk building’s exclusive leasing agent, in the transaction. Steve Baker of Cushman & Wakefield negotiated the 8-year lease on behalf of CBP.
CBP, part of national insurance and financial services firm Alera Group, provides customized employee benefit plans and HR technology services. The Stamford company sought to expand its office space and looked at several properties in Fairfield County before reaching agreement to lease space at the Connecticut Avenue site.
Hanover Norwalk Investors LLC, an affiliate of Hanover Real Estate Partners, bought 535 Connecticut in November 2018 and has undertaken an aggressive remodeling and improvement program.
Other tenants at the building, which contains 170,000 rentable square feet of Class A office space, include Crius, UBM, Northwestern Mutual and Belvoir.