JV Acquires Vacant Flex Property for Redevelopment in Central Fairfield County
CBRE recently completed the sale of a vacant flex office/industrial property located at 141 Danbury Rd. in the central Fairfield County community of Wilton, CT. A joint venture of Fuller Development and Spinnaker Real Estate Partners acquired the 47,040-square-foot, single-story building for $3.7 million and has applied to reposition the property for residential development.
The CBRE team of Louis Zuckerman, Tom Pajolek and Pat Colwell spearheaded the marketing of the property and represented the seller in the negotiations. CBRE also procured the buyer.
“This was a very smooth transaction with professionalism from both the buyer and seller,” said Zuckerman. “The property is extremely well suited for residential development, boasting the ideal combination of proximity to shopping and transportation, as well as a beautiful natural setting on the Norwalk River. A residential development will undoubtedly be a great addition to the town of Wilton.”
- ◦Sale/Acquisition