Patrick Colwell and George Lambros, senior directors of Cushman & Wakefield's Capital Markets Group, along with Gregory V. Frisoli, director, brokerage services of Cushman & Wakefield of Connecticut, represented the seller and procured the purchaser. "The offering attracted substantial interest from regional and local investors and developers," Colwell notes. "The property offers current income and the ability to further subdivide and upgrade the property for multiple flex-space tenants."
The property, which totals 8.25 acres, was built in 1958 and expanded in three consecutive years beginning in 1974. It consists of 32,726 sf of office space on the second floor, 32,727 sf of office/manufacturing space on the first floor and 79,155 sf of warehouse space.
Lambros adds that with the sale the commercial real estate investment market in Stamford "continues to be driven on an asset specific basis with investors looking to acquire well-positioned stabilized and added value opportunities."
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