News: Front Section
Posted: April 23, 2008
Dunne, Bardsley and Gavin of CBRE broker $12.25m office sale
Jeffrey Dunne, Steven Bardsley and David Gavin of CB Richard Ellis' New York Institutional Group represented 372 Wilton Associates, LLC, an entity managed by Silverman Realty Group, Inc., in the sale of Wilton Office Plaza for $12.25 million. The team was also responsible for procuring the buyer, Luzern Associates, LLC in its first office building purchase in Fairfield County.
Wilton Office Plaza is a two story 88,078 s/f office building, on Rte. 7, close to Wilton Metro North Train Station.
"Luzern Associates has acquired a property in a strong market with significant value-add upside through the lease-up of the well-positioned vacant suites," said Dunne.
" Our plans are to completely reposition the property and include the installation of exterior architectural features, exciting new landscape design, improved amenities, as well as, the installation of new lobbies, bathrooms and corridors with dramatically upgraded finishes. The results will be a boutique building appealing to executives and companies looking to locate on the newly improved Rte. 7 corridor," said Salvatore Campofranco, managing partner of Luzern.
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