Baldwin Pearson & Co. brokers $2.5 million sale of 18,000 s/f office property

Fairfield, CT Baldwin Pearson & Co., Inc. has brokered the sale of 60 Katona Dr. The 18,000 s/f office property is located off Black Rock Tpke., one of the area’s most heavily trafficked retail corridors.

The property was offered with approved plans for the development of 18 residential apartments, positioning it as an intriguing redevelopment opportunity in a very competitive commercial and residential real estate market. The marketing process generated strong interest from a broad pool of qualified buyers, resulting in multiple written offers. The interest kept pushing the price upward resulting in the transaction closing at the full asking price of $2.5 million. This sale reflects the quality of the property, the substantial demand for well-located redevelopment opportunities in the town, and the marketing process undertaken by Baldwin Pearson & Co, Inc.

Baldwin Pearson & Co., Inc. represented the transaction and looks forward to seeing the buyer bring new life to the property through its future redevelopment.