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October 20, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Stamford’s Soundview Plaza sold to TL Holdings affiliate

Soundview Plaza, a 179,000-square-foot, 7-story office property in Stamford, has been sold by Barings to an affiliate of TL Holdings, according to Cushman & Wakefield. Financial details were not disclosed.

The property at 1266 E. Main St., which is 88% leased to 15 tenants, features a 3-story atrium and an array of amenities including a cafeteria, fitness center, conference center and a parking garage.

One of the site’s most notable tenants is WWE, which in March announced plans to leave Soundview Plaza as part of its moving its headquarters to 677 Washington Blvd.

“The buyer identified an opportunity to acquire an institutionally owned asset that has been historically well-occupied,” said Gary Gabriel, a member of Cushman & Wakefield’s New Jersey capital markets team, who represented the seller and procured the buyer with David Bernhaut, Andy Merin, Brian Whitmer and Frank DiTommaso II (East Rutherford, New Jersey), as well as Al Mirin, Matt Torrance and Kate Schwartz (Stamford).

Seller Barings is an international investment management firm owned by Massachusetts Mutual Life Insurance Company (MassMutual).