Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE’s Institutional Properties represented the seller, Wilton 40/60, LLC, in the sale of 40 Danbury Road in Wilton, CT. CBRE also procured the buyer, Danbury Holdings DE LLC, an entity managed by Northpath Investments. This is Northpath’s first office acquisition in Fairfield County.
The 161,222 sq. ft. LEED Gold certified office building is 42% leased and located directly on Route 7, the economic office hub of central Fairfield County. The property sits within a four-building office park where tenants have access to a state-of-the- art fitness center, basketball and tennis courts, auditorium style conference center, garage parking, and full-service cafés. 40 Danbury Road offers stable income from credit tenants while providing upside to lease the highly desirable vacant space.
Mr. Bardsley commented, “The existing WALT of over six years allows Northpath to focus on the vacant space lease-up without a concern for existing tenant roll. Their expertise in repositioning assets and a favorable basis should allow them to immediately compete in the Fairfield Market.”
CBRE Institutional Properties Group is marketing several attractive investment opportunities including 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; 50 Danbury Road, a 221,070 sq. ft. office building in Wilton, CT; and Harborside 5 & 6, a 1.1 million sq. ft., two-building value-add opportunity on the waterfront in Jersey City, NJ. Northpath Investments is a privately held real estate investment firm headquartered in New York City.
Northpath is focused on the acquisition, development, redevelopment and management of retail, industrial and office properties in the Northeast and Mid-Atlantic. Northpath has an excellent track record in the ownership and management of real estate assets and seeks to create value for investors, partners, and the communities in which they work and live.