CBRE announced today the $21.1 million sale of 9 Old Kings Highway South, a 70,928 sq. ft. office property in Darien, Connecticut. The CBRE team of Jeffrey Dunne, Steve Bardsley, David Gavin, Jeremy Neuer and Travis Langer represented the seller, Hall
Investments.
9 Old Kings Highway South is an 84% leased, boutique Class A office building located in the heart of downtown Darien within walking distance of the Darien Train Station (less than one hour to New York City) and Darien’s best restaurants and retail. As one of the wealthiest communities in the country, Darien has excellent demographics and features some of the top public school districts in the state. 9 Old Kings Highway benefits from its strong rent roll, anchored by long-term leases with Portfolio Advisors
and Alter Domus, as well as its highly flexible and divisible floorplates that meet the market demand.
CBRE’s Jeff Dunne said, “The offering represented a unique opportunity to purchase a boutique office building in the prestigious town of Darien that features stable in-place income and an opportunity to increase net operating income with lease-up of the 11,600 sq. ft. of well-positioned vacancy.”
CBRE Institutional Properties Group is marketing several attractive investment opportunities including: The Woodbury Portfolio, a six-building, 719,317 sq. ft. office portfolio, Woodbury, NY; Chappaqua Crossing, a 490,000 sq. ft. value-add medical office property in Chappaqua, NY; Pond View Corporate Center, a 225,551 sq. ft. office complex located in Farmington, CT; and Harborside, a 3.2 million sq. ft., five-building value-add opportunity on the waterfront in Jersey City, NJ.
