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October 16, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

9 W. Broad St. in Stamford sells for $47.75 million

Newmark Knight Frank has completed its sale of 9 W. Broad St., a 9-story, 189,240-square-foot office building in Stamford, for $47.75 million.

Newmark Knight Frank represented the seller, a joint venture between certain funds managed by Westport Capital Partners LLC and Forstone Capital, and procured the buyer, who was not identified. The property is 94% leased and recently underwent a large-scale capital improvement program that included renovations to its lobby and common areas, façade improvements and energy efficiency upgrades.

“We are pleased to have found a new owner who will benefit from the property’s steady income, gradual lease rollover and excellent mix of tenants,” said Alex Haendler, director of capital markets at Newmark Knight Frank.