Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BRIDGEPORT, CT-The People’s United Bank is selling a 4.81-acre portfolio to Main State Ventures for an undisclosed amount. The nine properties in the portfolio are all here, totaling 425,000 square feet of commercial space. Jeffrey Dunne and Steven Bardsley from CB Richard Ellis repped the bank in this deal.

“We were pleased to have come to terms with one developer on the sale of the entire portfolio,” says Peter Brestovan, first VP of United Bank’s real estate services department, in a statement. Main State Ventures is partnership formed by Forstone Capital and Spinnaker Real Estate Partners, both Norwalk, CT-based companies.

The nine properties in the portfolio are 167, 777, 189 and 211 State St.; 779, 815, 855, 899 Main St.; and 830/880 Broad St. There is undeveloped space with these properties which Main State will look to develop, Dunne tells GlobeSt.com. The market may preclude any certain delivery dates for this development, he explains. Patriot Bank was the lender

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.