Patrick Grasso and Chris McManus of Keystone Realty Capital LLC of Stamford represented the seller. Cornerstone Real Estate Advisers is a subsidiary of Massachusetts Mutual Life Insurance Co.
The transaction included the waterfront office complex at 333 Ludlow St., which consists of two eight-story towers connected with a two-story atrium, as well as an adjacent 3.2-acre development parcel.
McManus says Stamford Harbor Park generated a "tremendous response" from the investment community, noting there were more than 30 bidders for the property that was put on the market for sale in February. The complex, built in 1988, is adjacent to the 80 acres Antares has assembled as part of its massive Harbor Point mixed-use redevelopment project for the South End of Stamford that is currently in the approval process.
Commenting on its latest purchase, James Cabrera, co-founder and managing partner of Antares says, "Stamford Harbor Park is just one more example of our confidence in the long-term future Stamford holds as an ideal location for businesses who seek world class office space at incredible value, proximity to New York City and access to great professional talent."
Antares is a tenant at 333 Ludlow, occupying approximately 27,000 sf of space for its development and operations functions. Other tenants at the complex, which was 76.5% leased at the time of sale, includes: Deloitte & Touche, XL America, KAO Brands and Coca-Cola.
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