Newmark has announced a new address for Power Home Remodeling Group at 60 Commerce Drive in Trumbull, CT. The tenant signed a 26,600-square-foot lease at the property. Newmark’s Senior Managing Director Tim Rorick, Managing Director Torey Walsh and Associate Director Jack McDermott represented owner’s CH Commerce Drive Associates, LLC and City Park Commerce Drive, LLC in the transaction. Jay Hruska and Brian Scruton of Cushman & Wakefield represented the tenant.
“The new location for Power Home Remodeling Group will offer the firm great efficiency,” said Rorick of Newmark. “60 Commerce Drive’s unique feature of providing both office and warehouse space in one location is a draw for companies looking for more effective oversight of their operations.”
Power Home Remodeling, listed in Inc. 5000’s annual list of fastest growing private companies and consistently named one of the best places to work, is the nation’s largest full-service exterior home remodeler, established in 1992. The group is headquartered in the Philadelphia region with an operating location in Connecticut. Power Home Remodeling Group is relocating from Wilton, CT in order to expand, while consolidating its office and warehouse needs into one location.
“Our recent renovations to the property have continued to make 60 Commerce Drive an ideal location in which to do business,” said Tyler Gilsenan of ownership. “The property’s robust infrastructure and proximity to the amenities of Bridgeport Ave are a bonus for employees.”
According to Newmark Research despite a slowdown in demand towards the end of the first quarter of 2020 due to the pandemic, nearly all suburban markets posted year-over-year increases in leasing activity. The Eastern market, which includes Trumbull, recorded healthy leasing of 130,000 square feet during the first quarter.
60 Commerce Drive spans 67,000 square feet and consists of a 3-story office tower with a connecting warehouse. There is currently 22,000 square feet of available space in the building, consisting of 15,500 square feet of office space split over two floors and 6,500 square feet of adjacent warehouse space with a 30’ high ceiling and access to two loading docks and a drive-in door.
The property is situated on beautifully landscaped grounds adorned with patios, gardens, ponds and fountains. The property features a newly renovated main lobby, six loading docks with two drive-in doors, high warehouse ceiling heights, and abundant parking. It also contains a 100% redundant power grid serviced by two separate substations. 60 Commerce Drive is conveniently located by the intersection of the Route 8 connector and the Merritt Parkway. Tenants also have access to shopping, dining and amenities along Bridgeport Avenue.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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