GHP Office Realty, LLC announced the purchase of 20 Saugatuck Avenue in Westport, Connecticut.
The currently vacant retail shopping center is 19,000 s/f.
The new owners — an entity made up of the principals of GHP Houlihan-Parnes Realtors — are planning a $2,000,000 capital improvement project to create a Class A multi-tenant shopping center.
The capital improvement project includes the installation of a new, modern glass façade, new awning, signage, installation of new mechanicals and gas service, landscaping, as well as resurfacing of the parking lot and roof
Andrew Greenspan, principal of GHP Office Realty, said, “20 Saugatuck Avenue offers a unique opportunity to Class A retailers because of the limited availability of retail locations in the market that can offer up to 19,000 s/f of space.ˮ
20 Saugatuck Avenue is located off of I-95, half a mile from the Westport Metro North Train Station and less than a 10 minute drive from Main Street in downtown Westport.
The waterfront section of Westport known as Saugatuck is filled with retail, commercial, and residential space, creating an ideal neighborhood feel.
The owners have hired GHP Office Realty, LLC as the exclusive agent for the center.