Boston Firm Picks Up Fairfield Office

FAIRFIELD, CT-In an $11.3-million transaction, the Davis Cos. has acquired 2150 Post Rd. here, The 49,758-sf, five-story office, constructed in 1986, was sold by Fairhaven Investors, an affiliate of BPG Properties of Philadelphia.

Earlier this month, Fairhaven sold the Milford Place Corporate Center, a 143,802-sf office building to HRPT Properties for $17 million. In the most recent sale, Andrew Merin, executive vice president, Patrick Colwell, senior director of Cushman & Wakefield’s Capital Markets Group, along with Paul Kauffman, executive director of C&W’s brokerage services division, represented Fairhaven Investors and procured Davis. BPG Properties’ vice presidents Joseph Nahas Jr. and Albert J. Corr were also involved in the deal.

The boutique building is designed with flexible floor plates and covered parking “to attract the size and type of tenants who dominate the Fairfield submarket,” Colwell notes. Merin adds that the property attracted significant interest from local and regional investors.

The property is 98% occupied and has a roster of 11 tenants including Washington Mutual Bank, Mass Mutual, United Healthcare and GovConnection. Affiliates of Davis, which also has offices in Norwalk, has developed or owned approximately eight million sf of commercial, industrial and residential space in Connecticut, Massachusetts, New Hampshire, Pennsylvania, New York and Texas. Among its Connecticut office holdings include Wilton Corporate Park, a 475,000-sf complex and Reservoir Corporate Center in Shelton, which totals 158,000 sf.