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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
- ◦Sale/Acquisition
