Davis has operations in Norwalk and Boston. The building, originally developed in 1978, is currently 92.5% leased to nine tenants, including Beiersdorf, AG Edwards and Bank of America. The center consists of two buildings--Riverview and Courtside--interconnected by a glass-enclosed walkway. The property was renovated in 1998.
Andrew Merin, vice chairman, and Patrick Colwell, senior director of Cushman & Wakefield's Capital Markets Group, along with Paul Kauffman, executive director, Cushman & Wakefield Brokerage Services, handled the sale and procured the purchaser. Joseph Nahas, Jr., vice president, BPG and Albert J. Corr, vice president, BPG, also worked on the sales deal.
Colwell adds that there were about a dozen bidders for the property. The property was under contract to the Davis Cos. since September of last year. There are some near term lease expirations that could provide some rental growth opportunities, C& W officials add.
Amenities at Wilton include a more than 5,000-sf, full-service cafeteria, an outdoor dining area, fitness center and a security/reception area servicing the entrances into both buildings. It also offers complete electrical redundancy with a back-up generator capable of running all building systems.
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