Parker Medical Relocates Headquarters to 88,000 Square Feet at 43 Old Ridgebury Road in Danbury, CT

Parker Medical Relocates Headquarters to 88,000 Square Feet at 43 Old Ridgebury Road in Danbury, CT John Hannigan of Choyce Peterson Negotiates Transaction

NORWALK, CT – Choyce Peterson, Inc. (www.choycepeterson.com), a full-service commercial real estate brokerage firm, announced the successful conclusion of lease negotiations on behalf of Parker Medical, Inc.  (www.parkermed.com) and the relocation of their headquarters office and assembly/warehouse operations from Bridgewater, CT and various other locations throughout the country to 43 Old Ridgebury Road in Danbury, an 88,000 square foot (SF) building. Choyce Peterson Principal John Hannigan represented Parker Medical in this transaction.

When Parker Medical was ready to consolidate their headquarters and x-ray imaging component and subsystem businesses in the southwestern area of the state, they appointed Hannigan as their exclusive broker to handle the search for space and the negotiation of the financial and business terms of their lease. They explained that they were seeking a building with first-rate office space and an attractive front entrance, as well as warehouse and assembly space with a high ceiling and loading docks. In addition, Parker Medical required abundant parking, as well as a fully air- conditioned building.

After touring buildings in Westchester County, New York, and in Brookfield, Danbury, Shelton & Trumbull in Connecticut, and soliciting proposals from numerous landlords, Parker Medical decided on 43 Old Ridgebury Road. This free-standing building had existing conditions which would only require minimal modifications for Parker Medical’s use, and exterior building signage. It also presented an ideal location just a 1⁄2 mile from I-84 and within 5 miles of I-684.

Hannigan commented, “We negotiated a favorable lease that will enable Parker Medical to consolidate the various aspects of their business into one building. We were thrilled to find a building with a space solution to improve efficiency and collaboration during their assembly processes and their executive office functions and negotiate favorable terms of their lease.”

Tim Holland, Vice President, Engineering stated, “It was a pleasure to work with John in seeking a new headquarters location for our company. We began the process with many ideas and issues that needed to be addressed. John led us through a thorough site search, which resulted in finding the perfect solution. We are excited to bring our company to the next level with a clean, modernized, and efficient workspace.”

Parker Medical celebrated the launch of their new facility with a ribbon cutting ceremony with Danbury Mayor Joe Cavo, Danbury Mayor Chief of Staff Dean Esposito, CT State Representative 138th District Ken Gucker, Danbury Chamber of Commerce President & CEO P.J. Murphy, Danbury Business Advocacy Director Roger Palanzo, and Danbury Police Department Sgt. Jim Antonelli in attendance. The ribbon cutting was followed with an employee party in recognition of their dedication and contribution throughout Parker Medical’s 37-year history. The day also celebrated Parker Medical founder Bill Holland’s legacy and significant contribution to the x-ray imaging industry.

The landlord, Fairway Asset Management, was represented by Jones Lang LaSalle Executive Vice President Ian Ceppos and Managing Director Al Gutierrez.

About Parker Medical, Inc.

Founded in 1984, Parker Medical, Inc. designs, develops and manufactures high voltage x-ray imaging components and subsystems. Parker Medical is a global leader in this niche market for the medical, industrial, scientific, and homeland security industries. Parker Medical customers range from leading OEM's, parts distributors and hospital sourcing consortiums to prestigious research universities and government agencies.

About Choyce Peterson, Inc.

Choyce Peterson, Inc., a full service commercial real estate brokerage with offices in Norwalk, CT and Rye Brook, NY, was founded in 1997 and 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.