Commercial Real Estate News
Sommerset Capital Relocates to Milford, CT
Somerset Capital Group, Ltd., a 25-year-old capital equipment leasing and finance organization, will be relocating its corporate headquarters to 16,000 square feet of office space in the Merritt Corporate Woods office complex located in the City of Milford, Connecticut in the fall of 2009. Somerset will be joining tenants such as Cigna, DataViz and Yellow Book USA in this 113,000 square foot Class A facility.
Evan Bokor, President, and CEO of Somerset stated, “Somerset elected to relocate its headquarters to accommodate our continued expansion and to establish a platform which will serve us well into the future. After an extensive search, we chose Merritt Corporate Woods due to its location, the abundant amenities offered by the building, and the proximity to both I-95 and the Merritt Parkway. I was also greatly impressed by, and appreciative of, the personal attention provided by the ownership of the facility in working with us in structuring a long-term lease that addressed the needs of our business.”
Brett A. Sherman, CCIM from Angel Commercial, who represented Somerset, observed, “Their timing to relocate could not have been better. Market conditions are such that expanding companies like Somerset are accessing high-quality office space at reasonable rates and on very fair terms to both tenant and landlord.”
Warren B. Lane, a partner in Merritt Corporate Woods pointed out that, “This is the first time in nine years that there has been space availability at MCW to accommodate a company the size of Somerset. We are delighted to have Somerset as a tenant and look forward to their continued success.”
Somerset has expanded its operations over the past two years since the consummation of a management buyout. Their conservative management approach combined with ample and reliable funding resources have enabled the company to not only survive in this very difficult economic climate but to actually thrive.
Established in 1984, Somerset provides customized equipment leasing and financing solutions for a broad array of assets to a clientele of large corporate customers in the US and abroad. In addition, through its Somerset Asset Sales division, Somerset offers asset management, equipment remarketing, and logistics services to its clients.