Stamford, CT-based Private Client Group had a team of SVP Al Mirin and senior associate Silvia Pogosyan put together the deal, representing the owner MDL Realty LLC for $77 per spare foot for the 28,000 square feet of rentable space. PCG also put together the deal the previous year for the two Main Street properties, as well for $1.8 million or $150 per square foot.
The reason for the year-difference in deals lies directly with the former tenant of 20 Abendroth, Columbia Elevator Co., according to Mirin. The tenant had intended to stay longer, but is currently in the process of expanding out of the space and moving to Connecticut, Mirin elaborates. With tenants relinquishing space, the LLC decided to take the rest of the property in this second deal, he tells GlobeSt.com. "The owner-occupied deals are getting done," he explains. Since they can "lockdown certainty of occupancy" and get a slightly better deal than a renter or buyer individually, right now.
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