News: Front Section
Posted: October 5, 2018
Avison Young arranges the sale of 179,000 s/f class A office building
Norwalk, CT Avison Young completed the sale of a 179,000 s/f class A office building at 535 Connecticut Ave.
Hanover Norwalk Investors LLC purchased the property from Matrix Norwalk LLC. The building is 74% leased and its tenants include Crius, UBM and Belvoir. The terms of the deal were not disclosed.
Sean Cahill, principal and managing director of Avison Young Norwalk, served as the listing broker for the transaction along with Gary Lyons, senior vice president, and Blake Thomas, vice president, from the Avison Young Capital Markets team in Raleigh, N.C.
The sale is one of the largest acquisition of class A office space in town this year and one of the largest in Fairfield County. Matrix has been seeking to sell portions of its real estate portfolio, which also includes the Centennial Corporate Center in Aiken, S.C.
The location is valued for its close proximity to I-95, visibility and assortment of amenities.
Hanover Norwalk Investors is an affiliate of Hanover Real Estate Partners based in Greenwich. Its national real estate portfolio includes office buildings, flex/warehouse, hospitality, retail, golf and residential real estate.
Matrix Norwalk LLC is affiliated with Matrix Property Group of Long Island.
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:
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.
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.