GHP Office Realty acquires 24,732 s/f at 120 New Canaan Avenue

GHP Office Realty has acquired 120 New Canaan Ave. as part of a 1031 like kind tax exchange. The property is a 1-story 24,732 s/f shopping center and offers abundant onsite parking. The building is in an ideal location right off of Exit 38 on the Merritt Pkwy. and is in close proximity to Rte. 7 and I-95. There are currently retail and medical suites available ranging from 1,500-3,250 s/f. The principals of GHP, Andrew Greenspan and James Houlihan, saw this acquisition as an opportunity to and add value through capital improvements and their experienced management and leasing team. The center is occupied by 8 tenants including Café Madrid, Banana Nails, A.S. Fine Foods, Rite Aid, State of the Art Cleaners, La Bella Salon, Liz Sue Bagels II, and Little Tokyo.