CBRE completes $21.1 million sale of 9 Old Kings Highway South - a 70,928 s/f office property

Darien, CT CBRE Institutional Properties Group completed the $21.1 million sale of 9 Old Kings Hwy. South, a 70,928 s/f office property. The CBRE team of Jeffrey Dunne, Steve Bardsley, David Gavin, Jeremy Neuer and Travis Langer represented the seller, Hall Investments.

9 Old Kings Hwy. South is an 84% leased, boutique class A office building located in downtown within walking distance of the Darien Train Station (less than one hour to New York City) and the area’s best restaurants and retail. 9 Old Kings Hwy. benefits from its strong rent roll, anchored by long-term leases with Portfolio Advisors and Alter Domus, as well as its flexible and divisible floorplates that meet the market demand.

Dunne said, “The offering represented a unique opportunity to purchase a boutique office building in the prestigious town of Darien that features stable in-place income and an opportunity to increase net operating income with lease-up of the 11,600 s/f of well-positioned vacancy.”