STAMFORD, CT- In what’s reportedly the first significant office investment sale in the Stamford market since 2008, Antares One Dock LP’s One Dock St. has traded for $15.8 million, GlobeSt.com has exclusively learned. CB Richard Ellis, which represented the seller and also procured the buyer, says the 85,723-square-foot property will benefit from its proximity to Harbor Point, an 80-acre master-planned redevelopment.

In a statement, Jeffrey Dunne, Stamford-based vice chairman with CBRE’s New York institutional group, says the property offers the buyer “substantial in-place income while still offering significant upside through lease-up of vacant space and raising existing below market rents to current market levels.” Currently it’s 87% leased; the buyer is Dock Street Holdings LLC, a joint venture between Meritage Properties and ClearRock Properties.

Dunne adds that the high investor interest in One Dock indicates “both the demand for these types of opportunities and the overall optimism in Stamford’s underlying market fundamentals.” Stamford was the scene of three of the top five leases in Fairfield County during the first quarter, according to Jones Lang LaSalle.

According to CBRE, One Dock offers proximity not only to the new four-lane Stamford Urban Transitway and the Stamford Transportation Center, but also to future development of up to 4,000 residential units and 400,000 square feet of retail at Harbor Point. It’s also convenient to I-95.

Dunne led a CBRE investment sales team that also included SVP Steven Bardsley and senior associate David Gavin. The same team also arranged the September 2007 sale of One Dock to Antares Investment Partners by Seaboard Properties Inc. The final piece of an eight-asset portfolio that Antares bought from Seaboard, One Dock traded for $22.6 million near the height of the market.