News: Connecticut
Posted: July 19, 2013
Keefe of HK Group sells 145,487 s/f class A office building for $16.5 million
Matthew Keefe of HK Group was the sole broker in the sale of a seven-story office building at 40 Richards Ave. to The Davis Companies of Boston, Mass. for $16.5 million. The seller was the Mack-Cali Realty Corporation.
The building contains a typical floor plan of 31,000 s/f. 44,000 s/f is currently vacant. The price per s/f is $113.41.
The sale represents the increasing interest in Fairfield and Westchester County office markets by institutional investors. It is also a natural extension of The Davis Companies ownership and management position of their class A property at 200 Connecticut Ave.
For more information, visit their website at www.hkgrp.com.
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