News: Front Section
Posted: May 13, 2016
Williams, Mallozzi and Pugh of Colliers International handle $8.3 million sale
330 Railroad Avenue - Greenwich, CTGreenwich, CT Colliers International has arranged the sale of 330 Railroad Ave. with 330 Railroad Avenue, LLC a partnership between Rich Granoff and Jeff Mendell who acquired the historic property for $8.3 million.
The Colliers International team of executive managing director Jeff Williams, managing director Enzennio Mallozzi, and associate Hollis Pugh represented both the buyer and the seller.
330 Railroad Avenue, LLC is planning a complete renovation and repositioning of the building; converting the Depression Era-built industrial asset into a boutique high-end office building with 30,000 s/f of office space. Granoff Architects will be the anchor tenant in the building.
“The sale and renovation of a historic property such as 330 Railroad Avenue occurs only once in a generation in Greenwich,” Mallozzi said. “The seller was looking to consolidate its various locations to create efficiencies in its local footprint, while the Buyers saw an opportunity to take a Depression-Era industrial property with great infrastructure and transform it into something unique for the modern office market.”
Located within walking distance to the Greenwich train station, the renovations of 330 Railroad Ave. are expected to be completed in the fourth quarter of this year. The upgrades will include: new windows, HVAC system, electrical systems, elevator cabs, restrooms, and a landscape plan. Private tenant entrances will also be created.
The building will feature 12’- 14’-foot ceiling heights, a rooftop with solar capabilities, backup generator, LED lights, and indoor and outdoor parking for 60 vehicles.
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