[BPt111]

Will this become a trend Companies moving Stamford maybe in New Haven County due to less traffic ? Will Stamford and Fairfield County traffic become problem in the future


For years, Stamford's economy has been the envy of Connecticut. But at least one company says the side effects of that success are behind its move out of the city. RTi Research, a global market research company with an office at 1351 Washington Blvd. in Stamford, will be moving to 14,000 square feet in the Merrittview building at 383 Main Ave. in Norwalk.
The realities of working in Stamford are a big part of the reason.
"We're a 50-person company, and one of the issues is Stamford is difficult to get to, and expensive to live within commuting distance," said David Rothstein, CEO of RTi Research.


"One of the benefits is I expect that we'll be able to attract people more easily from further up the line in Connecticut," he said. "That location is perfect for that."
Choyce Peterson, a Stamford-based commercial real estate broker, negotiated the deal. The building is owned by Empire State Realty Trust, which is run by Anthony Malkin, the son of Greenwich real estate mogul Peter Malkin.
Merrittview is one of a number of buildings on Norwalk's Route 7 corridor that offers amenities unavailable in older buildings, including a cafeteria, indoor parking and a gym.
All of that played a role in RTi's move, plus the fact that its current home has become mostly medical offices. But there were bigger issues at play, too. "If you're coming down the Merritt (Parkway) from Trumbull or Milford, there's still going to be traffic all the way, but it beats going all the way to Stamford," Rothstein said.


And despite moving 10 miles up the road, the commute from the south won't be much longer because the company's new home is right off the Merritt, Rothstein said.
Construction on the space will begin soon and the company expects to move in the middle of February, when RTi's second 10-year lease on its Stamford property expires.
John Hannigan, a co-founder of Choyce Peterson, said the building will fit RTi's needs.
"
A lot of companies that are coming off 5- to 10-year leases have more of an older style of office and layout, generally not conducive to today's business environment," he said. "This is a wonderful opportunity for them to see who needs offices, what departments should be adjacent to other departments, and all sorts of other answers."
He said the Route 7 corridor is attracting plenty of attention. "The leasing momentum is very strong there," he said. "You've got good landlords who put money back into their buildings."




Merrittview is an 8-story, 257,000-square-foot building with tenants including Cisco Systems, Nestle Holdings and SunGard Recovery Services.
Jeffery Newman, senior vice president at Empire State Realty Trust, said the deal for a 10-plus-year lease came together quickly. "They had a general sense of what they were looking for, and we worked with them very closely to make the space work for them," he said.
Newman said Stamford sites near the train station offer convenience, but farther away can mean a challenge. "It's fair to say the demographics for RTi were such that working at Merritview makes for a more convenient location," he said.

[kidyankee764]

I'm sure cheaper rent has much to do with it - it's just good PR for a company to claim they're doing this for the employees.

Cheaper rent is why companies have been moving to places like Trumbull and Shelton in recent years.

[Lintu]

I've seen more going the other direction, from Norwalk to Stamford. The opposite makes more sense to me.

[JayCT]

Originally Posted by Lintu

I've seen more going the other direction, from Norwalk to Stamford. The opposite makes more sense to me.

Companies moving up count from Stamford has happened before. I think most of the Merritt 7 buildings are filled with companies that came in from Stamford. Okay

[nep321]

FINALLY a company realizes this and makes a change. You know how many times I've said to my manager, "geez, I wish our office was located in Norwalk instead....wouldn't life be easier for us all?" She giggled and agreed. I mean, I live in Norwalk, she lives in Ridgefield, another guy in Wilton and another in Fairfield. It would benefit us all big time and help gentrify Norwalk and probably even Bridgeport.

But seriously, I wish my company would do the same thing.

[Cambium]

My point about eminent domain.

Take down every single structure along I-95 within 1/4 Mile to left and right.. Expand I-95 to at least 8 Lanes not including exit lanes. Rebuild new structures elsewhere for companies/homes (more jobs!). Relocate companies/residents. (Nobody loses their job/home!)

Lets Go!

[Stratford, Ct. Resident]

Originally Posted by Cambium

My point about eminent domain.

Take down every single structure along I-95 within 1/4 Mile to left and right.. Expand I-95 to at least 8 Lanes not including exit lanes. Rebuild new structures elsewhere for companies/homes (more jobs!). Relocate companies/residents. (Nobody loses their job/home!)

Lets Go!

What do you think your idea would cost?


They can't double-deck 95 due to the cost. So how do you propose that they will find the $$$ to take all of these properties and construct extra lanes????

[Wilton2ParkAve]

Originally Posted by nep321

FINALLY a company realizes this and makes a change. You know how many times I've said to my manager, "geez, I wish our office was located in Norwalk instead....wouldn't life be easier for us all?" She giggled and agreed. I mean, I live in Norwalk, she lives in Ridgefield, another guy in Wilton and another in Fairfield. It would benefit us all big time and help gentrify Norwalk and probably even Bridgeport.

But seriously, I wish my company would do the same thing.

I'm not sure how much of a change or time savings this equates to. It also eliminates train commuters (I don't want to hear about the Merritt 7 station, since all traffic is Southbound at commuting hours). Probably entirely for the evening commute. On the morning trip, Norwalk generally signals the end of the traffic with the worst offenders being Fairfield no-exit zone and Trumbull. Cheaper rent (and a nice corporate neighborhood) are the real reasons.

As for the eminent domain solution we are talking tens if not hundreds of billions of dollars. Epic cost that dwarfs even our pension underfunding and overall state deficit. Adding to the complexity is that many of those impacted have sufficient means and better attorneys than the state overall. DOA.

[Mike 75]

Originally Posted by Wilton2ParkAve

I'm not sure how much of a change or time savings this equates to. It also eliminates train commuters (I don't want to hear about the Merritt 7 station, since all traffic is Southbound at commuting hours). Probably entirely for the evening commute. On the morning trip, Norwalk generally signals the end of the traffic with the worst offenders being Fairfield no-exit zone and Trumbull. Cheaper rent (and a nice corporate neighborhood) are the real reasons.

And don't forget that many people working in Stamford are coming from NY and NJ. Shortening the commute of CT employees simultaneously lengthens the commute of the NY and NJ employees. Its a zero sum game.

[davwve]

Originally Posted by Wilton2ParkAve

I'm not sure how much of a change or time savings this equates to.

It would save me approx. 15 minutes.