CBRE represented the new owner, 300 PRW LLC, a private financing concern. The purchase price for the property came to approximately $305 per sf, a record price per square foot for any office building in Westport, according to Jeffrey R. Dunne, team leader of the CB Richard Ellis Tri-State Investment Team. Financing for the transaction was arranged by Tim Wood and Ron Roth of LJ Melody, a mortgage banking affiliate of CB Richard Ellis. Three hundred Post Rd. West was completed in March 2001 and is fully leased to Paine Weber through November 2011. The property is located nearby Exit 17 of Interstate 95 and Exit 41 of the Merritt Parkway.

"The new construction and long-term lease to Paine Weber made this a very attractive investment opportunity for the buyer, particularly in light of the highly restrictive zoning regulations and site constraints in the Westport market," Dunne says.

CBRE's other notable sales transactions in Connecticut in 2002 included the recent sale of 2 Soundview Dr. in Greenwich for $17.25 million, the sale of 535 Connecticut Ave. in Norwalk for $27.6 million and the sale of Met Life's Westport portfolio for $26.5 million.