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Feil Organization Returns to Westport for Second Office Deal This Year
CBRE closed the $16.5-million sale of 33 Riverside Ave., a Class A office building totaling 42,432 square feet in Westport, CT. The team of Jeffrey Dunne, Steven Bardsley Jeremy Neuer, David Gavin and Travis Langer of CBRE’s Institutional Properties Group represented the seller, Abbey Road Riverside LLC, while also procuring the buyer, The Feil Organization, Inc.
The acquisition of 33 Riverside follows Feil’s $43-million purchase earlier this year of 285/355 Riverside less than a mile away, which CBRE also marketed. The 91% occupied, five- story waterfront building is situated directly on the Saugatuck River.
“Westport attracts many entrepreneurial businesses, private equity firms and wealth management offices due to the high-net-worth clientele in the area,” said Dunne. “The extremely tight competitive set, with less than 5% vacancy, coupled with high barriers to entry provides very positive market dynamics for The Feil Organization.”
- ◦Sale/Acquisition
