Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Fairfield/Westchester  + Office  | 

CBRE Finds Buyer for Westport Offices

A CBRE team of Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Gene Pride and Stuart MacKenzie closed on the sale of 54 Wilton Rd., a 25,779-square-foot office building in Westport, CT. Terms weren’t disclosed.

CBRE represented the seller, a joint venture between a Connecticut-based real estate investment firm and Westport-based David Adam Realty, which has also managed the property since 2013 and will continue doing so.

Dunne and his team also procured the buyer, a joint venture between Empire Square Group and an offshore-based entity. Both are first-time buyers in the Fairfield County market.

54 Wilton Rd. is 100% leased to three tenants, with a remaining weighted average lease term of nearly 10 years.

“The Westport market continues to outperform, sustaining a strong demographic makeup that is poised to continue attracting and retaining wealth management and financial services companies,” said Dunne.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With CBRE’s DunneConnect With David Adam Realty

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action