Norwalk, CT September 17, 2018 – Choyce Peterson, Inc. (www.choycepeterson.com), a commercial real estate brokerage and consulting firm which specializes in representing both office and healthcare tenants, announced the successful completion of lease negotiations for a lease renewal on behalf of Akademos,Inc. (“The Company”) for 6,276 square feet of space at 200 Connecticut Avenue in Norwalk, CT. Adam Cognetta, Vice President, represented Akademos in the transaction.
Akademosk new they needed a professional, efficient and forward-looking real estate partner as their initial lease period was nearing expiration. Knowing Choyce Peterson’s reputation for specialized and comprehensive tenant rep work, they approached Adam Cognetta. With a professional atmosphere and highway access of key importance, Cognetta assessed and presented a number of viable, yet diverse market alternatives, conducting an extensive search of available properties in Norwalk, Darien and Wilton. The Company had plans to redesign their space to accommodate employee growth in the coming years bringing optionality, a flexible layout and increased parking density to the forefront when considering alternative buildings. Cognetta concurrently negotiated with the landlord at 200 Connecticut Avenue in order to best match his client’s need for added headcount while offering a refreshed aesthetic, reflective of Akademos’ young and vibrant culture.
After assessing all competing proposals, The Company determined that renewing their space at 200 Connecticut Avenue netted the ideal result, boasting excellent access to I-95 and a great workable solution with a landlord who recently completed renovations to the building’s main lobby and entryway and has plans to landscape and activate outdoor spaces on the property.
Cognetta worked tirelessly alongside the client and architect to add office and right-size circulation areas, and with furniture vendors to reconfigure workstations within Akademos’ existing footprint. Cognetta negotiated a generous concession package with the landlord to fund all work, factoring in flexible timing to ensure construction would not interfere with the client’s seasonal business.
A Company representative stated “Adam was extremely valuable and responsive in our mission to ultimately renew our lease. He demonstrated an unparalleled level of responsiveness and professionalism, keeping our key objectives at the center of all negotiations. He creatively incorporated lease concessions and future expansion options while enhancing an already positive rapport with building ownership. We were happy to renew our commitment to the building and the city of Norwalk. Moreover, we look forward to onboarding new members of our team and completing renovations in our space. We would put Adam in front of any executive thinking of renewing their lease or relocating in the area. For a growing Company like ours where it’s typical to have folks wearing many hats, having a professional real estate guy in your corner is a must - Adam truly did a tremendous job.”
David Allen, Vice President, Asset Management of The Davis Companies, was the in-house representative for the landlord, The Davis Companies.
Akademos, Inc. was founded in 1999 by a university professor who saw first-hand how the exorbitant costs and complexity of textbook distribution weakened classroom learning. Many students were unable to afford the books they needed, often coming unprepared to class without their required materials. Nineteen years later, our vision of a full-service virtual bookstore has become the model platform for efficient,cost-effective purchasing and distribution of new, used, rental and digital textbooks and course materials. Since its inception, the company has saved students over $50 million on course materials, including over $13 million in 2017.
About Choyce Peterson
Choyce Peterson, Inc., a commercial real estate brokerage and consulting firm which specializes in tenant representation, was founded in 1997 and has offices in Norwalk, CT and Rye Brook, NY. For corporate and healthcare-focused companies headquartered in Fairfield and Westchester counties, Choyce Peterson has negotiated millions of square feet of transactions in 42 states and Canada. The Choyce Peterson process delivers comprehensive and creative real estate solutions to ensure clients derive maximum value from their real estate decisions.