Wilton, CT Jeffrey Dunne, Steven Bardsley, and Travis Langer of CBRE’s Institutional Properties represented the seller, Wilton 40/60, LLC, in the sale of 40 Danbury Rd. CBRE also procured the buyer, Danbury Holdings DE LLC, an entity managed by Northpath Investments. This is Northpath’s first office acquisition in Fairfield County.
The 161,222 s/f LEED Gold certified office building is 42% leased and located along Rte. 7, the economic office hub of central Fairfield County. The property is within a four-building office park where tenants have access to a fitness center, basketball and tennis courts, auditorium style conference center, garage parking, and full-service cafés. 40 Danbury Rd. offers stable income from credit tenants while providing upside to lease the highly desirable vacant space.
Bardsley said, “The existing Weighted Average Lease Term (WALT) of over six years allows Northpath to focus on the vacant space lease-up without a concern for existing tenant roll. Their expertise in repositioning assets and a favorable basis should allow them to immediately compete in the Fairfield Market.”