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September 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Wright Street office complex in Westport sells for $30M

A Class A office complex covering 83,964 square feet at 8-10 Wright St. in Westport has sold for more than $30 million. It was bought by WFF Westport TT LLC.

The property, which consists of two office buildings, is 94% leased with a tenant lineup that includes UBS, Regus Corp., Berkowitz, Trager & Trager, Energy Income Partners and Ameriprise Financial. Jeffrey Dunne, Steven Bardsley and Stuart MacKenzie of CBRE’s Institutional Properties Group represented the seller, Marcus Partners, and procured the buyer.

“This property’s success is a strong example of our value-add strategy to invest in premium locations and execute upgrades and modernization to create highly desirable new Class A space,” said David Fiore, Metro New York regional director at Marcus Partners, which purchased the property in 2014. Fiore added that the property “went from 58% to 94% leased under our stewardship.”