Mountain Development Inks Record Deal in Connecticut

The transaction, arranged by Cushman & Wakefield, marks the largest medical lease agreement in Fairfield County in the first quarter of 2017.

Stratford, Conn.—Healthcare system Yale New Haven Health and non-profit medical foundation North East Medical group have signed a 10-year lease expansion at 99 Hawley Lane.

99 Hawley Lane
Merritt 8 Corporate Park at 99 Hawley Lane in Stratford, Conn.

The 100,968-square-foot medical office lease was brokered by Cushman & Wakefield’s Connecticut office and represents the continual growth and consolidation of the healthcare industry in the marketplace. The firm’s Jay Hruska represented the tenants in the transaction. Mountain Development, the building owner, was represented in-house by Joseph Coci.

Also known as Merritt 8 Corporate Park, the four-story structure at 99 Hawley Lane in Stratford was completed in 1988. The building encompasses 175,000 square feet of Class A office space that yields around $21.50 per square foot annually. In 2011, the property was acquired by a joint venture between affiliates of Square Mile Capital management and Mountain Development Corp.

99 Hawley Lane offers recently renovated common areas, full-service corporate cafeteria, corporate center, fitness center, lobby concierge and structured parking. The property is located at the junction of the Merritt Parkway and Route 8, and close to I-95 and I-84.

Image via Mountain Development