Cushman & Wakefield's Thomas J. O'Leary, senior director, represented Health Net. Kevin Foley, senior director, and Sean McDonnell, director, of Cushman & Wakefield represented the owner, Reservoir Corporate Group. Health Net plans to house its information technology and the appeals and grievances groups at the 145,000-sf building. Cushman & Wakefield officials say the company expects to create approximately 150 new jobs in the region with this expansion program. The firm is expected to move into the property by the end of this month, C& W's O'Leary says. With the deal, 4 Research Dr. is about 85% leased.

It was a good location "because of its close proximity to their Northeast headquarters at One Far Mill Crossing," O'Leary says. "This will mark the third Shelton location for the company." In addition to its headquarters and new space at 4 Research Dr., the company also has operations at 100 Beard Sawmill Rd. in Shelton.

Health Net employs approximately 1,800 associates in Connecticut, New Jersey and New York. The company, through its subsidiaries, offers full-service health plans that serve nearly one million members in the tri-state area.