Wettenstein of Vidal/Wettenstein brokers $2.6m sale - via 1031 Exchange

Fairfield, CT The multi-tenanted office building at 95 Reef Rd., has been sold to 1222 Wisconsin Ave. LLC, an investor,which purchased the property via a 1031 exchange sale. The 7,326 s/f building is located close to Metro-North and all of the retail establishments in the downtown area. The sales price was $2.6 million (or $355 per s/f). The building houses an architectural firm, interior design company, a children’s medical walk-in facility and a residence and storage area in the lower level.

Bruce Wettenstein, SIOR, partner with Vidal/Wettenstein, said, “The Fairfield commercial real estate market has been extremely active with multiple transactions taking place within a 90 day period.” 

Recently Wettenstein sold the 45 Sanford St. office building to an insurance company, and scheduled to close sometime during the first quarter of 2019, is a multi-tenanted medical facility on the Post Rd.

Wettenstein was the listing broker. The purchaser was represented by Jamar Arbelo of J Aaron Investments. Counsel for the purchaser was Noel Langerman of Karp & Langerman, P.C., and the seller, Meghan Gallagher of Susman, Duffy and Segaloff.