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News:
Owners Developers & Managers
Posted: October 5, 2018
Avison Young arranges the sale of 179,000 s/f class A office building
Norwalk, CT Avison Young completed the sale of a 179,000 s/f class A office building at 535 Connecticut Ave.
Hanover Norwalk Investors LLC purchased the property from Matrix Norwalk LLC. The building is 74% leased and its tenants include Crius, UBM and Belvoir. The terms of the deal were not disclosed.
Sean Cahill, principal and managing director of Avison Young Norwalk, served as the listing broker for the transaction along with Gary Lyons, senior vice president, and Blake Thomas, vice president, from the Avison Young Capital Markets team in Raleigh, N.C.
The sale is one of the largest acquisition of class A office space in town this year and one of the largest in Fairfield County. Matrix has been seeking to sell portions of its real estate portfolio, which also includes the Centennial Corporate Center in Aiken, S.C.
The location is valued for its close proximity to I-95, visibility and assortment of amenities.
Hanover Norwalk Investors is an affiliate of Hanover Real Estate Partners based in Greenwich. Its national real estate portfolio includes office buildings, flex/warehouse, hospitality, retail, golf and residential real estate.
Matrix Norwalk LLC is affiliated with Matrix Property Group of Long Island.
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