News: Front Section
Posted: May 4, 2018
Angel Commercial brokers $8.2m sale of two office buildings
Angel Commercial
Fairfield, CT Two adjacent office buildings at 328 & 338 Commerce Dr., sold in a single transaction for $8.2 million, according to Jon Angel, president of Angel Commercial, LLC. The total building area is 48,958 s/f on 1.91 acres.
The sellers were 328 Commerce Drive, LLC, and 338 Commerce Drive, LLC. The buyer was CDR-328, LLC. This was an off-market transaction handled solely by Angel Commercial.
“There are no planned changes at the buildings and the transition to the new entity should be seamless with respect to the current tenancy,” said Angel. “The acquisition of both buildings provides frontage on Commerce Drive as well as Halley Court.”
Angel Commercial has been retained for future leasing representation of the assets going forward.
Angel Commercial is a full-service commercial real estate brokerage firm headquartered in Fairfield County. The company specializes in the acquisition, disposition, and leasing of office, industrial, multi-family and retail properties on a local and national level.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.