News: Connecticut
Posted: July 19, 2019
Dunne, Bardsley and MacKenzie of CBRE handle $30.021 million office complex sale
Westport, CT CBRE has completed the $30.021 million sale of 8 & 10 Wright St., a class A office complex. The team of Jeffrey Dunne, Steven Bardsley and Stuart MacKenzie of CBRE’s Institutional Properties Group represented the seller, Marcus Partners. CBRE also procured the buyer, Waterway Capital, in the sale.
Currently 94% leased, 8 & 10 Wright St. consists of two office buildings totaling 83,964 s/f. The property features water views of the Saugatuck River and is near retail and dining options in downtown.
The property recently went through a capital improvement program including new lobbies, corridors, restrooms and windows, making the asset attractive to businesses and investors.
Major tenants at 8 & 10 Wright St. include UBS, Regus Corp., Berkowitz, Trager & Trager, Energy Income Partners and Ameriprise Financial.
“Westport attracts many financial institutions and wealth management offices due to the high net worth clientele in the area,” said Dunne. “Westport’s office market should continue to benefit from this, which bodes well for Waterway’s investment.”
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