Anthony Westreich’s Monday Properties has acquired a Class A office complex in Stamford, CT, from tech giant Oracle for $27.25 million.
JLL Capital Markets announced it closed the sale of 900 Long Ridge Road, a two-building, Class A office complex totaling 224,000 s/f and anchored by the Nestle water company.
“Since COVID we are seeing investors pivot to office investments that primarily feature a single investment-grade tenant with a long-term lease, which was the case here at 900 Long Ridge Road,” said Jose Cruz, the JLL senior managing directors who led the deal with Kevin O’Hearn, Stephen Simonelli, Michael Oliver and Michael Kavanagh.
900 Long Ridge Road consists of Building 1, which is a three-story, 59,700 s/f building; Building 2, which is a four-story building totaling 164,300 s/f occupied by NEstle; and a four-story, 307-space parking garage. The complex is 73.35 percent occupied overall.
The 36.58-acre campus offers tenants a walking trail, fitness center with locker rooms, auditorium, training rooms, cafeteria, and large and small boardrooms.
The property is positioned the Merritt Parkway Corridor, which features more than 5.4 million square feet of office space and excellent regional connectivity via access to Route 9 and Interstate 95 as well as Amtrak service into Manhattan.